According to the U.S. Bureau of Labor Statistics, prices for food and beverages were 7.45% higher in 2020 versus 2016 (a $0.07 difference in value).
Between 2016 and 2020: Food and beverages experienced an average inflation rate of 1.81% per year. In other words, food and beverages costing $1 in the year 2016 would cost $1.07 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.87% during this same period, inflation for food and beverages was lower.
In the year 2016: Pricing changed by 0.34%, which is below the average yearly change for food and beverages during the 2016-2020 time period. Compared to inflation for all items in 2016 (1.26%), inflation for food and beverages was lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Food and beverages:
Below are calculations of equivalent buying power for Food and beverages, over time, for $1 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|