According to the U.S. Bureau of Labor Statistics, prices for rice are 82.42% higher in 2023 versus 2004 (a $1.11 difference in value).
The current national average price is $1.35 for "Rice, white, long grain, precooked (cost per pound/453.6 grams)". This data is collected by a national survey and can vary from region to region.
Between 2004 and 2023: Rice experienced an average inflation rate of 3.21% per year. This rate of change indicates significant inflation. In other words, rice costing $1.35 in the year 2004 would cost $2.46 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.53% during this same period, inflation for rice was higher.
In the year 2004: Pricing changed by 7.17%, which is significantly above the average yearly change for rice during the 2004-2023 time period. Compared to inflation for all items in 2004 (2.68%), inflation for rice was much higher.
The average price for Rice is calculated from a weighted average of retailer data collected by the Bureau of Labor Statistics. Inflation rate is also calculated by the Bureau of Labor Statistics. The table below shows average prices and their corresponding "real" prices adjusted for inflation rate. To understand how price levels differ from inflation rates, see this article published by the BLS.
Average prices for Rice, white, long grain, precooked (cost per pound/453.6 grams):
|Year||Average price (Rice)||Inflation adjusted price (2023 dollars)|
Below are calculations of equivalent buying power for Rice, over time, for $1.35 beginning in 2004. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Rice: