How much did ground beef cost in 1994?
Ground beef averaged $1.48 per lb in 1994 — about $3.35 in 2026 dollars.
Monthly average price (USD per lb) · 1994
In 1994, ground beef averaged $1.48 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 $1.38 in November to $1.58 in March. Over the year it fell from $1.56 in January to $1.38 in December, a 11.6% decline.
Adjusted for inflation, $1.48 in 1994 is worth about $3.35 in 2026 dollars. Today ground beef averages $6.75 per lb, so in real terms it is 101% more expensive than it was in 1994. In plain (unadjusted) dollars the price is up 356% versus the 1994 average.
1994 monthly prices
| Month | Price | MoM |
|---|---|---|
| January | $1.56 | ▼ 0.8% |
| February | $1.56 | ▼ 0.4% |
| March | $1.58 | ▲ 1.4% |
| April | $1.48 | ▼ 6.0% |
| May | $1.49 | ▲ 0.5% |
| June | $1.51 | ▲ 1.5% |
| July | $1.46 | ▼ 3.6% |
| August | $1.46 | ▲ 0.3% |
| September | $1.46 | ▲ 0.2% |
| October | $1.42 | ▼ 3.2% |
| November | $1.38 | ▼ 2.8% |
| December | $1.38 | ▲ 0.3% |
| 1994 average | $1.48 |
FAQ
What was the average price of ground beef in 1994?
Ground beef averaged $1.48 per lb in 1994, based on 12 months of BLS average price data.
How much is $1.48 of 1994 ground beef worth today?
Adjusted for inflation with the CPI-U, $1.48 in 1994 is about $3.35 in 2026 dollars.
How does the 1994 price of ground beef compare to now?
Ground beef now averages $6.75 per lb, up 356% from the 1994 average of $1.48.