Butter price inflation, 1939→2023

Butter Inflation Calculator

Prices for Butter, 1939-2023 ($3.18)

According to the U.S. Bureau of Labor Statistics, prices for butter are 2,008.50% higher in 2023 versus 1939 (a $63.87 difference in value).

The current national average price is $3.18 for "Butter, salted, grade AA, stick, per lb. (453.6 gm)". This data is collected by a national survey and can vary from region to region.

Between 1939 and 2023: Butter experienced an average inflation rate of 3.70% per year. This rate of change indicates significant inflation. In other words, butter costing $3.18 in the year 1939 would cost $67.05 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.74% during this same period, inflation for butter was lower.

Price Inflation for Butter since 1939

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

Years with the largest changes in pricing: 1946 (41.08%), 1998 (31.11%), and 2004 (29.15%).

Price history

The average price for Butter 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 Butter, salted, grade AA, stick, per lb. (453.6 gm):

Year	Average price (Butter)	Inflation adjusted price (2023 dollars)
2012	$3.38	$3.38
2011	$3.60	$3.35
2010	$3.12	$3.36
2009	$2.84	$3.37
2008	$3.14	$3.45
2007	$3.03	$3.49
2006	$2.92	$3.35
2005	$3.28	$3.49
2004	$3.49	$3.66
2003	$2.81	$3.81
2002	$3.07	$3.86
2001	$3.30	$3.77
2000	$2.52	$3.64
1999	$2.65	$3.57
1998	$2.86	$3.73
1997	$2.17	$3.70
1996	$2.05	$3.73
1995	$1.61	$3.68
1994	$1.60	$3.79
1993	$1.66	$3.75
1992	$1.83	$3.88
1991	$1.94	$3.96
1990	$1.99	$3.97
1989	$2.13	$3.98
1988	$2.16	$4.03
1987	$2.17	$4.04
1986	$2.15	$4.08
1985	$2.12	$4.04
1984	$2.11	$4.05
1983	$2.06	$4.07
1982	$2.05	$4.08
1981	$1.99	$4.06
1980	$1.88	$4.12

View price changes for other categories
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Buying power of $3.18 since 1939

Below are calculations of equivalent buying power for Butter, over time, for $3.18 beginning in 1939. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
1939	$3.18	-
1940	$3.54	11.29%
1941	$4.05	14.39%
1942	$4.66	15.16%
1943	$5.14	10.16%
1944	$4.88	-4.96%
1945	$4.94	1.24%
1946	$6.97	41.08%
1947	$7.91	13.45%
1948	$8.52	7.78%
1949	$7.13	-16.42%
1950	$7.16	0.54%
1951	$8.04	12.26%
1952	$8.40	4.49%
1953	$7.80	-7.14%
1954	$7.15	-8.36%
1955	$7.01	-1.98%
1956	$7.17	2.29%
1957	$7.39	3.01%
1958	$7.38	-0.09%
1959	$7.49	1.46%
1960	$7.45	-0.45%
1961	$7.61	2.13%
1962	$7.50	-1.46%
1963	$7.49	-0.18%
1964	$7.56	1.01%
1965	$7.68	1.61%
1966	$8.36	8.80%
1967	$8.59	2.76%
1968	$8.66	0.79%
1969	$8.77	1.27%
1970	$8.98	2.38%
1971	$9.09	1.24%
1972	$9.05	-0.45%
1973	$9.51	5.12%
1974	$9.81	3.12%
1975	$10.67	8.82%
1976	$13.15	23.24%
1977	$13.90	5.69%
1978	$15.41	10.87%
1979	$17.44	13.14%
1980	$19.60	12.38%
1981	$21.09	7.64%
1982	$21.57	2.27%
1983	$21.82	1.17%
1984	$22.36	2.43%
1985	$22.60	1.08%
1986	$22.66	0.30%
1987	$23.07	1.79%
1988	$23.00	-0.31%
1989	$23.01	0.03%
1990	$21.59	-6.18%
1991	$21.00	-2.71%
1992	$20.26	-3.55%
1993	$19.02	-6.10%
1994	$18.17	-4.48%
1995	$18.78	3.38%
1996	$23.59	25.58%
1997	$25.15	6.65%
1998	$32.98	31.11%
1999	$31.95	-3.12%
2000	$29.78	-6.79%
2001	$37.62	26.32%
2002	$34.18	-9.13%
2003	$31.76	-7.10%
2004	$41.01	29.15%
2005	$40.46	-1.35%
2006	$37.52	-7.28%
2007	$37.41	-0.28%
2008	$39.05	4.39%
2009	$36.25	-7.17%
2010	$40.02	10.39%
2011	$46.21	15.45%
2012	$42.98	-6.97%
2013	$43.49	1.18%
2014	$49.84	14.60%
2015	$51.04	2.40%
2016	$51.40	0.71%
2017	$52.70	2.53%
2018	$53.46	1.44%
2019	$54.06	1.12%
2020	$54.51	0.84%
2021	$54.46	-0.10%
2022	$65.04	19.42%
2023	$67.05	3.09%*

* 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 Butter:

Year	1939	1940	1941	1942	1943	1944	1945	1946	1947	1948	1949	1950	1951	1952	1953	1954	1955	1956	1957	1958	1959	1960	1961	1962	1963	1964	1965	1966	1967	1968	1969	1970	1971	1972	1973	1974	1975	1976	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
CPI	14.508	16.146	18.469	21.269	23.431	22.269	22.546	31.808	36.085	38.892	32.508	32.685	36.692	38.338	35.600	32.623	31.977	32.708	33.692	33.662	34.154	34.000	34.723	34.215	34.154	34.500	35.054	38.138	39.192	39.500	40.000	40.954	41.462	41.277	43.392	44.746	48.692	60.008	63.423	70.315	79.554	89.400	96.231	98.415	99.569	101.992	103.092	103.400	105.254	104.931	104.962	98.477	95.808	92.408	86.769	82.885	85.685	107.600	114.754	150.454	145.754	135.862	171.615	155.954	144.877	187.115	184.592	171.162	170.683	178.170	165.401	182.593	210.795	196.102	198.410	227.375	232.833	234.484	240.409	243.882	246.620	248.691	248.454	296.713	305.894

Adjust butter prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 1939 * 1939 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Butter was 14.508 in the year 1939 and 305.894 in 2023:

305.894 / 14.508 * $3.18 = $67.05

Therefore, according to U.S. Bureau of Labor Statistics, $3.18 in 1939 has the same "purchasing power" as $67.05 in 2023 (in the CPI category of Butter).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Butter in 1939. In addition to butter, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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