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Inflation 2024: 50 Items That Have Gone Up in Price the Most

June 8, 2024

6 min Read

Written by Heather Taylor

Edited by Amber Barkley

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Lately, many Americans may feel as though every aspect of the cost of living has increased substantially. While this may be true for certain items, like real estate, the truth is most items have experienced a fairly gradual price uptick over the last 44 years.

Which items went up in cost the most over the last four decades? To find out, GOBankingRates analyzed the average prices of various items to find the amount increased over 1980 to 2024 for each item. These items include grocery staples like eggs, bananas and bacon, along with prices for electricity, gasoline and utility gas. Additional items referenced include average and median sale prices for homes, the average amount of tuition and required fees for full-time undergrad students and the average price of a new car.

Ranked in order from smallest to biggest price change, here are the 50 items that have gone up in price the most since 1980.

Rice

Change in price (1980 to 2024): $0.07

Electricity (Per KWH)

Change in price (1980 to 2024): $0.12

Chops (Boneless)

Change in price (1980 to 2024): $0.27

Flour

Change in price (1980 to 2024): $0.35

Potatoes (Frozen)

Change in price (1980 to 2024): $0.46

Margarine

Change in price (1980 to 2024): $0.61

Turkey (Frozen)

Change in price (1980 to 2024): $0.63

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Bologna

Change in price (1980 to 2024): $0.65

Spaghetti and Macaroni

Change in price (1980 to 2024): $0.70

Sugar

Change in price (1980 to 2024): $0.70

Potatoes

Change in price (1980 to 2024): $0.73

Broccoli

Change in price (1980 to 2024): $0.92

Beans

Change in price (1980 to 2024): $0.93

Tuna

Change in price (1980 to 2024): $0.93

Malt Beverage

Change in price (1980 to 2024): $0.94

Chicken Legs

Change in price (1980 to 2024): $1.06

Utility (Piped) Gas

Change in price (1980 to 2024): $1.07

Iceberg Lettuce

Change in price (1980 to 2024): $1.09

Oranges

Change in price (1980 to 2024): $1.21

Romaine Lettuce

Change in price (1980 to 2024): $1.25

Chicken

Change in price (1980 to 2024): $1.29

Chicken Breast

Change in price (1980 to 2024): $1.29

Lemons

Change in price (1980 to 2024): $1.31

Wheat Bread

Change in price (1980 to 2024): $1.32

Tomatoes

Change in price (1980 to 2024): $1.44

White Bread

Change in price (1980 to 2024): $1.53

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Eggs

Change in price (1980 to 2024): $1.64

Grapefruit

Change in price (1980 to 2024): $1.66

Bananas

Change in price (1980 to 2024): $1.67

Peppers

Change in price (1980 to 2024): $1.68

All Pork

Change in price (1980 to 2024): $1.84

Gasoline (All Types Per Gallon)

Change in price (1980 to 2024): $2.24

All Ham

Change in price (1980 to 2024): $2.33

American Cheese

Change in price (1980 to 2024): $2.42

Chops (Center)

Change in price (1980 to 2024): $2.57

Cheddar Cheese

Change in price (1980 to 2024): $2.68

Orange Juice (Frozen Concentrate)

Change in price (1980 to 2024): $2.87

Coffee

Change in price (1980 to 2024): $2.92

Ground Chuck

Change in price (1980 to 2024): $3.27

Frankfurters

Change in price (1980 to 2024): $3.31

Cookies

Change in price (1980 to 2024): $3.53

Ground Beef

Change in price (1980 to 2024): $3.80

Ice Cream

Change in price (1980 to 2024): $4.15

Potato Chips

Change in price (1980 to 2024): $4.41

Beef for Stew

Change in price (1980 to 2024): $4.42

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Steak (Round)

Change in price (1980 to 2024): $5.38

Wine

Change in price (1980 to 2024): $8.38

College (Average Tuition and Fees)

Change in price (1980 to 2024): $3,917

Car (Average New Car Price)

Change in price (1980 to 2024): $20,144

Median Home Value

Change in price (1980 to 2024): $364,000

Average Home Value

Change in price (1980 to 2024): $437,600

Methodology: For this study, GOBankingRates analyzed the average prices of various items to find the amount increased over the years for each item. First, GOBankingRates used the Bureau of Labor Statistics Consumer Price Index to find the average price of eggs, chicken, bananas, oranges, grapefruit, lemons, bacon, wine, gasoline, electricity and utility gas for the years of 1980 to 2024. Using the U.S. Census’ Residential Construction Survey data, the average and median sale price for homes in the United States was found. The average amount of tuition and required fees for full-time undergraduate students at public postsecondary institutions was sourced from the National Center for Education Statistics for the years 2002 to 2023. The average price of a new car was found from Kelly Blue Book. The years were sorted by oldest to newest, and the overall change from the oldest year with data available to the newest year with data available was calculated to show the increase in various items’ average price. Some items did not have average annual costs and were left blank during those years. All data was collected on and is up to date as of June 4, 2024.

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