Other fats and oils including peanut butter price inflation, 1997→2023

Other Fats And Oils Including Peanut Butter Inflation Calculator

Prices for Other Fats And Oils Including Peanut Butter, 1997-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices for other fats and oils including peanut butter are 114.32% higher in 2023 versus 1997 (a $22.86 difference in value).

Between 1997 and 2023: Other fats and oils including peanut butter experienced an average inflation rate of 2.98% per year. This rate of change indicates significant inflation. In other words, other fats and oils including peanut butter costing $20 in the year 1997 would cost $42.86 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.43% during this same period, inflation for other fats and oils including peanut butter was higher.

Price Inflation for Other fats and oils including peanut butter since 1997

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 2008 (18.21%), 2022 (17.16%), and 2012 (12.52%).

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Buying power of $20.00 since 1997

Below are calculations of equivalent buying power for Other fats and oils including peanut butter, over time, for $20 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	$20.00	-
1998	$20.38	1.92%
1999	$20.54	0.77%
2000	$20.66	0.57%
2001	$20.77	0.52%
2002	$20.99	1.06%
2003	$21.71	3.44%
2004	$22.77	4.88%
2005	$23.19	1.87%
2006	$23.52	1.41%
2007	$24.44	3.91%
2008	$28.89	18.21%
2009	$29.29	1.38%
2010	$28.47	-2.80%
2011	$30.60	7.50%
2012	$34.43	12.52%
2013	$33.72	-2.05%
2014	$32.81	-2.71%
2015	$31.93	-2.69%
2016	$31.45	-1.50%
2017	$31.68	0.75%
2018	$31.81	0.42%
2019	$31.25	-1.78%
2020	$31.60	1.14%
2021	$33.78	6.90%
2022	$39.58	17.16%
2023	$42.86	8.29%*

* 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 Other fats and oils including peanut butter:

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	2021	2022	2023
CPI	100.000	101.923	102.708	103.292	103.831	104.931	108.538	113.838	115.969	117.600	122.199	144.452	146.439	142.333	153.008	172.157	168.624	164.049	159.628	157.227	158.406	159.064	156.234	158.011	168.917	197.907	214.321

Adjust other fats and oils including peanut butter prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 1997 * 1997 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Other fats and oils including peanut butter was 100.000 in the year 1997 and 214.321 in 2023:

214.321 / 100.000 * $20 = $42.86

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1997 has the same "purchasing power" as $42.86 in 2023 (in the CPI category of Other fats and oils including peanut butter).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Other fats and oils including peanut butter in 1997. In addition to other fats and oils including peanut butter, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.