More Price Increase in Food

The food priced at $20 in 2018 has gone up to $23.92 in 2022, which is about 20% increase, according to the U.S. Bureau of Labor Statistics.

Between 2018 and 2022, food experienced an average inflation fate of 4.57% per year. This rate of change indicates significant inflation. In other words, food costing $20 in the year 2018 would cost $23.92 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.82% during this same period, inflation for food was higher.

In the year 2018, pricing changed by 1.40%, which is significantly below the average yearly change for food during the 2018-2022 time period. Compared to inflation for all items in 2018 (2.44%), inflation for food was lower.