Soups price inflation, 2023→2024

Soups Inflation Calculator

Prices for Soups, 2023-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for soups are 1.18% higher in 2024 versus 2023 (a $0.24 difference in value).

Between 2023 and 2024: Soups experienced an average inflation rate of 1.18% per year. In other words, soups costing $20 in the year 2023 would cost $20.24 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.83% during this same period, inflation for soups was lower.

In the year 2023: Pricing changed by 5.96%, which is significantly above the average yearly change for soups during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for soups was higher.

Price Inflation for Soups since 1977

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 2022 (14.64%), 1980 (9.06%), and 1979 (8.99%).

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Buying power of $20.00 since 2023

Below are calculations of equivalent buying power for Soups, over time, for $20 beginning in 2023. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2023	$20.00	5.96%
2024	$20.24	1.18%*

* 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 Soups:

Year	1977	1978	1979	1980	1981	1982	1983	1984	1985	1986	1987	1988	1989	1990	1991	1992	1993	1994	1995	1996	1997	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
CPI	71.000	72.892	79.446	86.646	93.462	96.731	100.077	103.185	108.146	110.808	116.515	121.138	128.038	136.269	145.015	153.662	162.269	169.854	175.177	182.377	188.623	191.854	195.700	198.262	201.677	205.492	207.915	207.685	215.015	214.938	216.212	227.453	234.687	225.920	230.345	237.150	238.872	238.428	239.195	243.234	246.699	243.713	244.215	254.147	257.652	295.370	312.972	316.672

Adjust soups prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2023 * 2023 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Soups was 312.972 in the year 2023 and 316.672 in 2024:

316.672 / 312.972 * $20 = $20.24

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2023 has the same "purchasing power" as $20.24 in 2024 (in the CPI category of Soups).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Soups in 1977. In addition to soups, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.