Sugar and sugar substitutes price inflation, 2023→2024

Sugar And Sugar Substitutes Inflation Calculator

Prices for Sugar And Sugar Substitutes, 2023-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for sugar and sugar substitutes are 4.68% higher in 2024 versus 2023 (a $0.94 difference in value).

Between 2023 and 2024: Sugar and sugar substitutes experienced an average inflation rate of 4.68% per year. This rate of change indicates significant inflation. In other words, sugar and sugar substitutes costing $20 in the year 2023 would cost $20.94 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.89% during this same period, inflation for sugar and sugar substitutes was higher.

In the year 2023: Pricing changed by 10.32%, which is significantly above the average yearly change for sugar and sugar substitutes during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for sugar and sugar substitutes was much higher.

Price Inflation for Sugar and sugar substitutes since 1977

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

Years with the largest changes in pricing: 1980 (55.94%), 2022 (11.30%), and 2023 (10.32%).

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Buying power of $20.00 since 2023

Below are calculations of equivalent buying power for Sugar and sugar substitutes, 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	10.32%
2024	$20.94	4.68%*

* 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 Sugar and sugar substitutes:

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	59.600	65.485	68.823	107.323	106.862	97.108	100.608	102.285	101.754	101.815	102.562	105.562	113.777	118.438	119.931	120.392	121.715	123.862	126.808	132.585	134.800	135.577	137.200	137.123	140.262	143.215	145.738	146.885	149.100	163.931	167.072	170.491	178.269	187.621	197.554	201.211	190.218	181.686	189.906	188.325	187.596	187.142	188.177	201.155	209.418	233.076	257.123	269.165

Adjust sugar and sugar substitutes 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 Sugar and sugar substitutes was 257.123 in the year 2023 and 269.165 in 2024:

269.165 / 257.123 * $20 = $20.94

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2023 has the same "purchasing power" as $20.94 in 2024 (in the CPI category of Sugar and sugar substitutes).

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