Uncooked beef steaks priced at $20 in 1997 $56.08 in 2024

Uncooked Beef Steaks Inflation Calculator

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Prices for Uncooked Beef Steaks, 1997-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for uncooked beef steaks are 180.39% higher in 2024 versus 1997 (a $36.08 difference in value).

Between 1997 and 2024: Uncooked beef steaks experienced an average inflation rate of 3.89% per year. This rate of change indicates significant inflation. In other words, uncooked beef steaks costing $20 in the year 1997 would cost $56.08 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.49% during this same period, inflation for uncooked beef steaks was higher.

Price Inflation for Uncooked beef steaks since 1997

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2004 (13.38%), 2021 (12.01%), and 2014 (11.16%).

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Buying power of $20.00 since 1997

Below are calculations of equivalent buying power for Uncooked beef steaks, over time, for $20 beginning in 1997. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1997$20.00-
1998$19.98-0.09%
1999$20.452.36%
2000$21.816.65%
2001$23.628.28%
2002$23.32-1.28%
2003$25.529.45%
2004$28.9413.38%
2005$29.010.26%
2006$29.220.73%
2007$30.363.91%
2008$31.062.29%
2009$30.01-3.37%
2010$30.652.13%
2011$33.298.60%
2012$35.406.34%
2013$35.981.63%
2014$39.9911.16%
2015$42.937.35%
2016$41.24-3.94%
2017$40.22-2.47%
2018$40.741.30%
2019$41.481.82%
2020$44.948.33%
2021$50.3312.01%
2022$51.632.58%
2023$54.285.13%
2024$56.083.31%*

* 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 Uncooked beef steaks:

Year1997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI100.00099.908102.269109.069118.100116.585127.600144.677145.054146.108151.817155.301150.065153.264166.451177.001179.878199.945214.645206.190201.094203.703207.405224.679251.665258.164271.409280.387

Adjust uncooked beef steaks prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1997 * 1997 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Uncooked beef steaks was 100.000 in the year 1997 and 280.387 in 2024:

280.387 / 100.000 * $20 = $56.08

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1997 has the same "purchasing power" as $56.08 in 2024 (in the CPI category of Uncooked beef steaks).


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

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