According to the U.S. Bureau of Labor Statistics, prices for food and beverages are 19.77% higher in 2022 versus 2015 (a $237,199.39 difference in value).
Between 2015 and 2022: Food and beverages experienced an average inflation rate of 2.61% per year. This rate of change indicates significant inflation. In other words, food and beverages costing $1,200,000 in the year 2015 would cost $1,437,199.39 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 2.84% during this same period, inflation for food and beverages was lower.
In the year 2015: Pricing changed by 1.80%, which is below the average yearly change for food and beverages during the 2015-2022 time period. Compared to inflation for all items in 2015 (0.12%), inflation for food and beverages was higher.
Below are calculations of equivalent buying power for Food and beverages, over time, for $1,200,000 beginning in 2015. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Food and beverages: