Rice priced at $1.35 in 1997 → $2.39 in 2022

Rice Inflation Calculator

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Prices for Rice, 1997-2022 ($1.35)

According to the U.S. Bureau of Labor Statistics, prices for rice are 76.89% higher in 2022 versus 1997 (a $1.04 difference in value).

The current national average price is $1.35 for "Rice, white, long grain, precooked (cost per pound/453.6 grams)". This data is collected by a national survey and can vary from region to region.

Between 1997 and 2022: Rice experienced an average inflation rate of 2.31% per year. This rate of change indicates significant inflation. In other words, rice costing $1.35 in the year 1997 would cost $2.39 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 2.33% during this same period, inflation for rice was lower.

Price Inflation for Rice since 1997

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2008 (27.30%), 2004 (7.17%), and 2022 (6.24%).

Price history

The average price for Rice is calculated from a weighted average of retailer data collected by the Bureau of Labor Statistics. Inflation rate is also calculated by the Bureau of Labor Statistics. The table below shows average prices and their corresponding "real" prices adjusted for inflation rate. To understand how price levels differ from inflation rates, see this article published by the BLS.

Average prices for Rice, white, long grain, precooked (cost per pound/453.6 grams):

Year Average price (Rice) Inflation adjusted price (2022 dollars)
1981 $1.30 No data
1980 $1.19 No data
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Buying power of $1.35 since 1997

Below are calculations of equivalent buying power for Rice, over time, for $1.35 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 $1.35 -
1998 $1.34 -0.65%
1999 $1.36 1.55%
2000 $1.34 -1.59%
2001 $1.33 -1.09%
2002 $1.33 0.05%
2003 $1.36 2.57%
2004 $1.46 7.17%
2005 $1.47 0.71%
2006 $1.55 5.64%
2007 $1.62 4.50%
2008 $2.06 27.30%
2009 $2.17 5.33%
2010 $2.12 -2.54%
2011 $2.21 4.47%
2012 $2.26 2.07%
2013 $2.30 1.72%
2014 $2.30 0.27%
2015 $2.26 -2.04%
2016 $2.20 -2.47%
2017 $2.16 -1.87%
2018 $2.18 1.05%
2019 $2.19 0.53%
2020 $2.23 1.44%
2021 $2.25 0.97%
2022 $2.39 6.24%*
* Not final. See inflation summary for latest details.

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Rice:

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
CPI 100.000 99.354 100.892 99.285 98.200 98.254 100.777 108.000 108.762 114.892 120.066 152.842 160.992 156.909 163.927 167.327 170.212 170.678 167.202 163.080 160.028 161.708 162.567 164.913 166.506 176.891

Adjust rice prices for inflation

Start with the inflation rate formula:

CPI in 2022 / CPI in 1997 * 1997 USD value = 2022 USD value

Then plug in historical CPI values from above. The CPI for Rice was 100.000 in the year 1997 and 176.891 in 2022:

176.891 / 100.000 * $1.35 = $2.39

Therefore, according to U.S. Bureau of Labor Statistics, $1.35 in 1997 has the same "purchasing power" as $2.39 in 2022 (in the CPI category of Rice).

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

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