According to the U.S. Bureau of Labor Statistics, prices for rice are 47.33% higher in 2022 versus 2007 (a $0.64 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 2007 and 2022: Rice experienced an average inflation rate of 2.62% per year. This rate of change indicates significant inflation. In other words, rice costing $1.35 in the year 2007 would cost $1.99 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 2.15% during this same period, inflation for rice was higher.
In the year 2007: Pricing changed by 4.50%, which is above the average yearly change for rice during the 2007-2022 time period. Compared to inflation for all items in 2007 (2.85%), inflation for rice was 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 (2022 dollars)|
Below are calculations of equivalent buying power for Rice, over time, for $1.35 beginning in 2007. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Rice: