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Price Changes: 2002 vs 2012
From the cost to satisfy our sweet tooth, to utility bills, prices for everyday products have been steadily on the rise and taking a big bite out of consumers’ wallets.

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Your Budget Over a Decade

The Labor Department reports that in 2002, $20 had the same buying power as $25.55 in 2012. From the dairy farm to the electric grid, we break down how buying power has changed over the last decade.  

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Gallon of Milk

According to the California Department of Food and Agriculture, in 2008 it cost between $1.96 and $2.35 for processors to produce a gallon of store-ready milk. Despite low-production costs, consumers shelled out an average $3.43 per gallon in May. Ten years ago we paid about $2.78.

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Fried Eggs on Plate

A Dozen Eggs

Millions of hens are able to produce billions of eggs per year, cheaply, for this national commodity. Farmpolicy.com reports the total cost to produce a dozen eggs was about 75 cents in 2008. Ten years ago eggs set you back 0.97 per dozen compared to $1.69 in 2012.

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Electricity (per KWH)

Ten years ago it would cost a measly 9 cents per kilowatt compared to in 13 cents May 2012. Seems like a small amount but to put things into perspective, if you were to run a 100 watt light bulb for 8 hours, it would cost you about $10.40 per bulb.

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Wine

Drinking a glass of wine could help you relax, but the price has increased nearly $2.55 in the past decade. In May 2002, red or white table wine set you back about $6.33 a liter compared to $8.85 this year.

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Caffe Latte Coffee

Coffee

We are a caffeinated society, and it’s a costly habit. According to the Labor Department consumers pay around $5.60 per pound of coffee a substantial increase from the $3 per pound in 2002.  

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Peanut Butter

According to Nationalpeanutbutterboard.org, Americans consume on average more than 1.5 billion pounds of peanut butter and peanut products each year. The Labor Department reported that the average cost of a pound of peanut butter increased to $2.79 in May, up from $1.98 per pound in 2002.

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Ice Cream

It's getting expensive to satiate your sweet tooth. The Labor Department reported consumers paid an average price of $5.05 per-half gallon this year as opposed to $3.80 10 years ago.

Reuters

Filling Car With Gas

Gas

Gas prices have been pretty tame so far this summer, but filling up your tank is still costly.  Americans shelled out an average $3.79 per gallon of regular unleaded gas this year, a substantial increase from the $1.42 a gallon price tag 10 years ago. Filling up a 12-gallon tank twice a week can set you back more than $4,700 a year, as opposed to about $1,770 a year 10 years ago.

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Food Portion Eating a Burger Reuters

Ground Beef

Hamburger lovers beware, ground beef prices have jumped about $1.38 a pound over the past 10 years, according to the Labor Department. In May, consumers dished out $3.69 per pound of ground beef.

Reuters

Price Changes: 2002 vs 2012

From the cost to satisfy our sweet tooth, to utility bills, prices for everyday products have been steadily on the rise and taking a big bite out of consumers’ wallets.

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