According to the U.S. Bureau of Labor Statistics, prices for food and beverages are 714.22% higher in 2024 versus 1970 (a $107,133.55 difference in value).
Between 1970 and 2024: Food and beverages experienced an average inflation rate of 3.96% per year. This rate of change indicates significant inflation. In other words, food and beverages costing $15,000 in the year 1970 would cost $122,133.55 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.94% during this same period, inflation for food and beverages was higher.
In the year 1970: Pricing changed by 5.44%, which is above the average yearly change for food and beverages during the 1970-2024 time period. Compared to inflation for all items in 1970 (5.83%), inflation for food and beverages was lower.
Below are calculations of equivalent buying power for Food and beverages, over time, for $15,000 beginning in 1970. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1970 | $15,000.00 | 5.44% |
| 1971 | $15,462.91 | 3.09% |
| 1972 | $16,101.21 | 4.13% |
| 1973 | $18,240.37 | 13.29% |
| 1974 | $20,750.43 | 13.76% |
| 1975 | $22,501.44 | 8.44% |
| 1976 | $23,197.24 | 3.09% |
| 1977 | $24,580.22 | 5.96% |
| 1978 | $26,981.02 | 9.77% |
| 1979 | $29,870.62 | 10.71% |
| 1980 | $32,426.68 | 8.56% |
| 1981 | $34,948.25 | 7.78% |
| 1982 | $36,371.48 | 4.07% |
| 1983 | $37,182.29 | 2.23% |
| 1984 | $38,579.64 | 3.76% |
| 1985 | $39,479.59 | 2.33% |
| 1986 | $40,767.68 | 3.26% |
| 1987 | $42,426.68 | 4.07% |
| 1988 | $44,177.69 | 4.13% |
| 1989 | $46,682.00 | 5.67% |
| 1990 | $49,370.33 | 5.76% |
| 1991 | $51,129.96 | 3.56% |
| 1992 | $51,837.26 | 1.38% |
| 1993 | $52,921.22 | 2.09% |
| 1994 | $54,151.81 | 2.33% |
| 1995 | $55,644.05 | 2.76% |
| 1996 | $57,452.56 | 3.25% |
| 1997 | $58,959.17 | 2.62% |
| 1998 | $60,212.77 | 2.13% |
| 1999 | $61,509.49 | 2.15% |
| 2000 | $62,929.84 | 2.31% |
| 2001 | $64,876.37 | 3.09% |
| 2002 | $66,069.58 | 1.84% |
| 2003 | $67,481.31 | 2.14% |
| 2004 | $69,758.48 | 3.37% |
| 2005 | $71,454.86 | 2.43% |
| 2006 | $73,131.11 | 2.35% |
| 2007 | $75,988.93 | 3.91% |
| 2008 | $80,072.69 | 5.37% |
| 2009 | $81,576.77 | 1.88% |
| 2010 | $82,225.19 | 0.79% |
| 2011 | $85,171.28 | 3.58% |
| 2012 | $87,340.66 | 2.55% |
| 2013 | $88,572.60 | 1.41% |
| 2014 | $90,621.94 | 2.31% |
| 2015 | $92,250.03 | 1.80% |
| 2016 | $92,567.14 | 0.34% |
| 2017 | $93,383.64 | 0.88% |
| 2018 | $94,695.31 | 1.40% |
| 2019 | $96,439.59 | 1.84% |
| 2020 | $99,658.45 | 3.34% |
| 2021 | $103,466.82 | 3.82% |
| 2022 | $113,373.95 | 9.58% |
| 2023 | $119,791.32 | 5.66% |
| 2024 | $122,133.55 | 1.96%* |
* 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 Food and beverages:
| Year | 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 | 2024 |
| CPI | 34.985 | 36.254 | 38.062 | 40.131 | 41.369 | 43.077 | 48.800 | 55.515 | 60.200 | 62.062 | 65.762 | 72.185 | 79.915 | 86.754 | 93.500 | 97.308 | 99.477 | 103.215 | 105.623 | 109.069 | 113.508 | 118.192 | 124.892 | 132.085 | 136.792 | 138.685 | 141.585 | 144.877 | 148.869 | 153.708 | 157.738 | 161.092 | 164.562 | 168.362 | 173.569 | 176.762 | 180.538 | 186.631 | 191.169 | 195.654 | 203.300 | 214.225 | 218.249 | 219.984 | 227.866 | 233.670 | 236.966 | 242.449 | 246.804 | 247.653 | 249.837 | 253.346 | 258.013 | 266.625 | 276.814 | 303.319 | 320.488 | 326.754 |