According to the U.S. Bureau of Labor Statistics, prices for milk were 47.70% higher in 2020 versus 1997 (a $2.38 difference in value).
Between 1997 and 2020: Milk experienced an average inflation rate of 1.71% per year. In other words, milk costing $5 in the year 1997 would cost $7.38 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 2.09% during this same period, inflation for milk was lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Milk:
| Year | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 |
| CPI | 100.000 | 101.308 | 107.592 | 107.754 | 112.700 | 110.608 | 111.538 | 124.977 | 126.985 | 125.469 | 140.119 | 148.507 | 128.978 | 133.586 | 145.819 | 147.449 | 149.176 | 156.573 | 147.479 | 140.674 | 139.677 | 137.005 | 140.743 | 147.697 |
Below are calculations of equivalent buying power for Milk, over time, for $5 beginning in 1997. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1997 | $5.00 | - |
| 1998 | $5.07 | 1.31% |
| 1999 | $5.38 | 6.20% |
| 2000 | $5.39 | 0.15% |
| 2001 | $5.64 | 4.59% |
| 2002 | $5.53 | -1.86% |
| 2003 | $5.58 | 0.84% |
| 2004 | $6.25 | 12.05% |
| 2005 | $6.35 | 1.61% |
| 2006 | $6.27 | -1.19% |
| 2007 | $7.01 | 11.68% |
| 2008 | $7.43 | 5.99% |
| 2009 | $6.45 | -13.15% |
| 2010 | $6.68 | 3.57% |
| 2011 | $7.29 | 9.16% |
| 2012 | $7.37 | 1.12% |
| 2013 | $7.46 | 1.17% |
| 2014 | $7.83 | 4.96% |
| 2015 | $7.37 | -5.81% |
| 2016 | $7.03 | -4.61% |
| 2017 | $6.98 | -0.71% |
| 2018 | $6.85 | -1.91% |
| 2019 | $7.04 | 2.73% |
| 2020 | $7.38 | 4.94%* |