What Does $20 Buy You in Groceries in 2024?

Over the last few years, people have felt the impact of inflation more at the grocery store than just about anywhere else. Prices rose and fell across nearly all departments — but the fluctuations were hardly consistent.

One thing that has remained the same is that $20 is still just $20 — but it can buy a whole lot more or less at the supermarket, depending on what’s on your shopping list.

Here’s a look at how inflation has impacted what $20 can buy you in groceries according to the most recent Bureau of Labor Statistics data, with most dollar amounts rounded up or down by a few cents.

Bread now costs over $2 per pound — $2.03, to be exact, as of January. Last January, the same pound cost just $1.89 for a year-over-year increase of 7.7%.

A standard loaf of sliced white bread weighs 20oz, which means a loaf costs about $2.54, so $20 can buy you just shy of eight loaves.

A gallon of whole milk fell by 5.9% over the last year. It cost $4.20 in January 2023, but in January of this year, the same gallon cost just $3.96, meaning you can now get five gallons for $20 with $0.20 to spare.

The price of processed American cheese jumped by 3.8%, from $4.72 per pound last January to $4.90 per pound this January.

Home chefs might have noticed that it costs more this year than last to make comfort food like meatloaf and meatballs. Ground chuck — prized for its high fat content that lets the meat hold its shape — cost $5.09 per pound in January, up 9.7% from $4.64 in January 2023. That means you can get just shy of four pounds for $20.

Eggs — which joined bacon as one of the most apparent signs of out-of-control rising prices during the height of inflation — turned out to be one of the greatest success stories of the food-flation era.

A dozen large Grade A eggs now costs just $2.52, down 47.7% from $4.82 in January 2023. That’s about 96 eggs for $20, which would have bought less than 50 eggs this time last year.

Like eggs, bacon was one of the primary villains during the worst days of grocery store inflation. According to the Food Marketing Institute, the price of bacon peaked at $7.61 per pound in October 2022, but the cost of the salty and delicious breakfast staple has since fallen back to earth.

Last January, it was $6.81 per pound. One year later in January 2024, it had fallen another 2.8% to $6.61.

If the current trend continues, summer barbecues and trips to the steakhouse might cost more this summer than last. All uncooked beef steaks cost $10.69 per pound in January, up 11.5% from $9.58 in January 2023.

That’s a little less than two pounds for $20.

It’s one of the only food products to suffer double-digit price increases over the last year. The worst offenders were boneless sirloin, which rose by 12.5% and boneless round steaks, which increased by 11.5%.

The produce aisle is much more forgiving than the meat section in 2024.

Fans of romaine lettuce enjoyed one of the only double-digit price decreases, with the crisp salad staple falling by 15.2% from $3.06 per pound last January to $2.59 this January. The price fell by 3.4% between December 2023 and January 2024 alone.

Few things in the entire grocery store cost more now compared to the same time last year than frozen orange juice from concentrate. The price soared by 45.6% from 2.82 per pound last January to $4.11 this January.

Today, $20 isn’t even enough for five full pounds of 12-ounce containers. Last January, an Andrew Jackson could buy you more than seven.

Home bakers might have noticed that it cost more this year than last to crank out cakes, cookies, brownies and all kinds of other scrumptious sweet things.

The price of white sugar jumped to $0.98 per pound this January, up 13.4% from $0.86 per pound at the same time last year. It’s one of the rare year-over-year double-digit price increases.