THE GROCERY PRICE INDEX

How much did bananas cost in 1998?

Bananas averaged $0.49 per lb in 1998 — about $1.01 in 2026 dollars.

Bananas price in 1998 Monthly average price (USD per lb) · 1998
$0.46$0.48$0.50$0.52$0.54JanMarMayJulAugOctDecJan 1998$0.47Jul 1998$0.53Dec 1998$0.51basketreport.com

12 monthly observations · Source: BLS series APU0000711211.

In 1998, bananas averaged $0.49 per lb at the U.S. city average, across all twelve months, according to U.S. Bureau of Labor Statistics average price data. The monthly price ranged from $0.47 in October to $0.53 in July. Over the year it rose from $0.47 in January to $0.51 in December, a 7.8% increase.

Adjusted for inflation, $0.49 in 1998 is worth about $1.01 in 2026 dollars. Today bananas averages $0.65 per lb, so in real terms it is 36% cheaper than it was in 1998. In plain (unadjusted) dollars the price is up 32% versus the 1998 average.

1998 monthly prices

MonthPriceMoM
January $0.47 ▲ 2.6%
February $0.49 ▲ 3.4%
March $0.48 ▼ 2.9%
April $0.51 ▲ 7.6%
May $0.51 ▼ 0.2%
June $0.51 ▼ 0.6%
July $0.53 ▲ 4.5%
August $0.49 ▼ 7.7%
September $0.48 ▼ 2.7%
October $0.47 ▼ 1.3%
November $0.49 ▲ 3.6%
December $0.51 ▲ 4.7%
1998 average$0.49

FAQ

What was the average price of bananas in 1998?

Bananas averaged $0.49 per lb in 1998, based on 12 months of BLS average price data.

How much is $0.49 of 1998 bananas worth today?

Adjusted for inflation with the CPI-U, $0.49 in 1998 is about $1.01 in 2026 dollars.

How does the 1998 price of bananas compare to now?

Bananas now averages $0.65 per lb, up 32% from the 1998 average of $0.49.

Cite this

Plain text
Basket Report. "Bananas price in 1998 (U.S. average)." Basket Report — Grocery Price Index. Retrieved June 26, 2026 from https://basketreport.com/prices/bananas/1998/. Data: U.S. Bureau of Labor Statistics, series APU0000711211.
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<a href="https://basketreport.com/prices/bananas/1998/">Bananas price in 1998 (U.S. average) — Basket Report</a> (data: U.S. Bureau of Labor Statistics, series APU0000711211; retrieved June 26, 2026)
APA
Basket Report. (2026). Bananas price in 1998 (U.S. average) [Data set]. Basket Report — Grocery Price Index. https://basketreport.com/prices/bananas/1998/