Uncooked beef steaks priced at $20 in 1998 $45.03 in 2020

Uncooked Beef Steaks Inflation Calculator

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Prices for Uncooked Beef Steaks, 1998-2020 ($20)

According to the U.S. Bureau of Labor Statistics, prices for uncooked beef steaks were 125.17% higher in 2020 versus 1998 (a $25.03 difference in value).

Between 1998 and 2020: Uncooked beef steaks experienced an average inflation rate of 3.76% per year. This rate of change indicates significant inflation. In other words, uncooked beef steaks costing $20 in the year 1998 would cost $45.03 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 2.12% during this same period, inflation for uncooked beef steaks was higher.

Price Inflation for Uncooked beef steaks since 1998

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2004 (13.38%), 2014 (11.15%), and 2003 (9.45%).

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Uncooked beef steaks:

Year 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
CPI 99.917 102.300 109.067 118.100 116.583 127.600 144.675 145.050 146.108 151.817 155.300 150.065 153.264 166.481 176.992 179.851 199.913 214.623 206.198 201.125 203.715 207.434 224.982

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Buying power of $20 since 1998

Below are calculations of equivalent buying power for Uncooked beef steaks, over time, for $20 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year USD Value Inflation Rate
1998 $20.00 -
1999 $20.48 2.39%
2000 $21.83 6.61%
2001 $23.64 8.28%
2002 $23.34 -1.28%
2003 $25.54 9.45%
2004 $28.96 13.38%
2005 $29.03 0.26%
2006 $29.25 0.73%
2007 $30.39 3.91%
2008 $31.09 2.29%
2009 $30.04 -3.37%
2010 $30.68 2.13%
2011 $33.32 8.62%
2012 $35.43 6.31%
2013 $36.00 1.62%
2014 $40.02 11.15%
2015 $42.96 7.36%
2016 $41.27 -3.93%
2017 $40.26 -2.46%
2018 $40.78 1.29%
2019 $41.52 1.83%
2020 $45.03 8.46%*
* Not final. See inflation summary for latest details.

How to calculate the inflation rate for uncooked beef steaks, 1998-2020

Start with the inflation rate formula:

CPI in 2020 / CPI in 1998 * 1998 USD value = 2020 USD value

Then plug in historical CPI values from above. The CPI for Uncooked beef steaks was 99.917 in the year 1998 and 224.982 in 2020:

224.982 / 99.917 * $20 = $45.03

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1998 has the same "purchasing power" as $45.03 in 2020 (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 1998. 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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