How much did ground beef cost in 1988?
Ground beef averaged $1.36 per lb in 1988 — about $3.85 in 2026 dollars.
Monthly average price (USD per lb) · 1988
In 1988, ground beef averaged $1.36 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 $1.31 in January to $1.41 in November. Over the year it rose from $1.31 in January to $1.40 in December, a 6.5% increase.
Adjusted for inflation, $1.36 in 1988 is worth about $3.85 in 2026 dollars. Today ground beef averages $6.75 per lb, so in real terms it is 75% more expensive than it was in 1988. In plain (unadjusted) dollars the price is up 396% versus the 1988 average.
1988 monthly prices
| Month | Price | MoM |
|---|---|---|
| January | $1.31 | ▼ 0.6% |
| February | $1.32 | ▲ 0.1% |
| March | $1.34 | ▲ 2.0% |
| April | $1.34 | ▼ 0.5% |
| May | $1.37 | ▲ 2.2% |
| June | $1.39 | ▲ 1.7% |
| July | $1.37 | ▼ 1.1% |
| August | $1.37 | ▼ 0.2% |
| September | $1.37 | ▲ 0.1% |
| October | $1.39 | ▲ 1.6% |
| November | $1.41 | ▲ 1.1% |
| December | $1.40 | ▼ 0.7% |
| 1988 average | $1.36 |
FAQ
What was the average price of ground beef in 1988?
Ground beef averaged $1.36 per lb in 1988, based on 12 months of BLS average price data.
How much is $1.36 of 1988 ground beef worth today?
Adjusted for inflation with the CPI-U, $1.36 in 1988 is about $3.85 in 2026 dollars.
How does the 1988 price of ground beef compare to now?
Ground beef now averages $6.75 per lb, up 396% from the 1988 average of $1.36.