According to the U.S. Bureau of Labor Statistics, the average price of milk rose 57%, from $2.61 per gallon in 1997 to $4.11 in September 2026. Overall prices rose 110% over the same period, so milk rose more slowly than inflation. This data is collected by a national survey and can vary from region to region.
● Price● Price, inflation-adjusted
Milk prices are 83.59% higher in 2026 versus 1997 (a $2.18 difference in value).
Between 1997 and 2026, Milk experienced an average inflation rate of 2.12% per year. This rate of change indicates significant inflation. In other words, milk costing $2.61 in the year 1997 would cost $4.79 in 2026 for an equivalent purchase. Compared to the overall inflation rate of 2.54% during this same period, inflation for milk was lower.
The official rate is based on an average household's spending, so your own inflation rate is probably different. The personal inflation calculator works it out from your budget.
The average price for milk is calculated from a weighted average of retailer data collected by the Bureau of Labor Statistics. The table below shows the average U.S. price of milk, fresh, whole, fortified, per gal. (3.8 lit) each year, along with the same price adjusted for inflation. To understand how price levels differ from inflation rates, see this article published by the BLS.
| Year | Price (per gallon) | Price, inflation-adjusted |
|---|---|---|
| 2026 (partial) | $4.17 | $4.17 |
| 2025 | $4.07 | $4.25 |
| 2024 | $3.98 | $4.28 |
| 2023 | $4.03 | $4.45 |
| 2022 | $4.09 | $4.71 |
| 2021 | $3.54 | $4.41 |
| 2020 | $3.32 | $4.32 |
| 2019 | $3.04 | $4.00 |
| 2018 | $2.90 | $3.88 |
| 2017 | $3.23 | $4.43 |
| 2016 | $3.20 | $4.50 |
| 2015 | $3.42 | $4.86 |
| 2014 | $3.69 | $5.26 |
| 2013 | $3.46 | $5.01 |
| 2012 | $3.49 | $5.13 |
| 2011 | $3.57 | $5.35 |
| 2010 | $3.26 | $5.04 |
| 2009 | $3.11 | $4.88 |
| 2008 | $3.80 | $5.94 |
| 2007 | $3.50 | $5.69 |
| 2006 | $3.08 | $5.15 |
| 2005 | $3.19 | $5.50 |
| 2004 | $3.16 | $5.63 |
| 2003 | $2.76 | $5.06 |
| 2002 | $2.76 | $5.16 |
| 2001 | $2.88 | $5.49 |
| 2000 | $2.78 | $5.44 |
| 1999 | $2.84 | $5.75 |
| 1998 | $2.70 | $5.59 |
| 1997 | $2.61 | $5.49 |
| 1996 | $2.62 | $5.63 |
| 1995 | $2.48 | $5.49 |
Yearly averages; 2026 is through September. Inflation-adjusted to 2026 dollars.
Below are calculations of equivalent buying power for Milk, over time, for $2.61 beginning in 1997. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1997 | $2.61 | - |
| 1998 | $2.64 | 1.31% |
| 1999 | $2.81 | 6.20% |
| 2000 | $2.81 | 0.15% |
| 2001 | $2.94 | 4.59% |
| 2002 | $2.89 | -1.86% |
| 2003 | $2.91 | 0.84% |
| 2004 | $3.26 | 12.04% |
| 2005 | $3.31 | 1.61% |
| 2006 | $3.27 | -1.19% |
| 2007 | $3.66 | 11.68% |
| 2008 | $3.88 | 5.99% |
| 2009 | $3.37 | -13.15% |
| 2010 | $3.49 | 3.57% |
| 2011 | $3.81 | 9.16% |
| 2012 | $3.85 | 1.12% |
| 2013 | $3.89 | 1.17% |
| 2014 | $4.09 | 4.96% |
| 2015 | $3.85 | -5.81% |
| 2016 | $3.67 | -4.61% |
| 2017 | $3.65 | -0.71% |
| 2018 | $3.58 | -1.91% |
| 2019 | $3.67 | 2.73% |
| 2020 | $3.88 | 5.52% |
| 2021 | $4.01 | 3.44% |
| 2022 | $4.57 | 14.00% |
| 2023 | $4.60 | 0.59% |
| 2024 | $4.59 | -0.13% |
| 2025 | $4.67 | 1.75% |
| 2026 | $4.79 | 2.57%* |
* 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 Milk:
| Year | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
| CPI | 100.000 | 101.308 | 107.592 | 107.750 | 112.700 | 110.608 | 111.542 | 124.975 | 126.983 | 125.467 | 140.119 | 148.507 | 128.978 | 133.586 | 145.819 | 147.449 | 149.176 | 156.572 | 147.479 | 140.674 | 139.677 | 137.005 | 140.743 | 148.507 | 153.618 | 175.120 | 176.145 | 175.912 | 178.983 | 183.588 |