According to the U.S. Bureau of Labor Statistics, prices for food and beverages were 340.45% higher in 2021 versus 1976 (a $4,766,281.11 difference in value).
Between 1976 and 2021: Food and beverages experienced an average inflation rate of 3.35% per year. This rate of change indicates significant inflation. In other words, food and beverages costing $1,400,000 in the year 1976 would cost $6,166,281.11 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 3.50% during this same period, inflation for food and beverages was lower.
In the year 1976: Pricing changed by 3.13%, which is below the average yearly change for food and beverages during the 1976-2021 time period. Compared to inflation for all items in 1976 (5.75%), inflation for food and beverages was lower.
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 |
| CPI | 34.992 | 36.233 | 38.050 | 40.125 | 41.375 | 43.075 | 48.800 | 55.508 | 60.192 | 62.075 | 65.767 | 72.183 | 79.933 | 86.750 | 93.517 | 97.300 | 99.475 | 103.217 | 105.583 | 109.058 | 113.550 | 118.183 | 124.908 | 132.075 | 136.767 | 138.675 | 141.608 | 144.858 | 148.867 | 153.675 | 157.742 | 161.100 | 164.550 | 168.350 | 173.583 | 176.750 | 180.542 | 186.642 | 191.183 | 195.667 | 203.303 | 214.232 | 218.249 | 219.982 | 227.866 | 233.657 | 236.958 | 242.444 | 246.804 | 247.656 | 249.846 | 253.356 | 258.022 | 266.626 | 273.409 |
Below are calculations of equivalent buying power for Food and beverages, over time, for $1400000 beginning in 1976. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1976 | $1,400,000.00 | 3.13% |
| 1977 | $1,483,259.50 | 5.95% |
| 1978 | $1,627,976.91 | 9.76% |
| 1979 | $1,802,765.47 | 10.74% |
| 1980 | $1,956,504.23 | 8.53% |
| 1981 | $2,109,115.32 | 7.80% |
| 1982 | $2,194,442.21 | 4.05% |
| 1983 | $2,243,495.77 | 2.24% |
| 1984 | $2,327,882.94 | 3.76% |
| 1985 | $2,381,259.23 | 2.29% |
| 1986 | $2,459,632.17 | 3.29% |
| 1987 | $2,560,934.35 | 4.12% |
| 1988 | $2,665,431.60 | 4.08% |
| 1989 | $2,817,102.97 | 5.69% |
| 1990 | $2,978,735.40 | 5.74% |
| 1991 | $3,084,548.26 | 3.55% |
| 1992 | $3,127,587.60 | 1.40% |
| 1993 | $3,193,744.13 | 2.12% |
| 1994 | $3,267,042.56 | 2.30% |
| 1995 | $3,357,443.95 | 2.77% |
| 1996 | $3,465,888.04 | 3.23% |
| 1997 | $3,557,605.05 | 2.65% |
| 1998 | $3,633,346.76 | 2.13% |
| 1999 | $3,711,155.86 | 2.14% |
| 2000 | $3,796,858.64 | 2.31% |
| 2001 | $3,914,887.90 | 3.11% |
| 2002 | $3,986,306.89 | 1.82% |
| 2003 | $4,071,821.72 | 2.15% |
| 2004 | $4,209,397.23 | 3.38% |
| 2005 | $4,311,827.09 | 2.43% |
| 2006 | $4,412,941.33 | 2.35% |
| 2007 | $4,585,175.73 | 3.90% |
| 2008 | $4,831,652.03 | 5.38% |
| 2009 | $4,922,241.37 | 1.87% |
| 2010 | $4,961,335.75 | 0.79% |
| 2011 | $5,139,138.94 | 3.58% |
| 2012 | $5,269,747.35 | 2.54% |
| 2013 | $5,344,190.36 | 1.41% |
| 2014 | $5,467,936.90 | 2.32% |
| 2015 | $5,566,269.57 | 1.80% |
| 2016 | $5,585,481.27 | 0.35% |
| 2017 | $5,634,859.98 | 0.88% |
| 2018 | $5,714,037.32 | 1.41% |
| 2019 | $5,819,258.16 | 1.84% |
| 2020 | $6,013,307.29 | 3.33% |
| 2021 | $6,166,281.11 | 2.54%* |