How much did ground beef cost in 1998?
Ground beef averaged $1.41 per lb in 1998 — about $2.90 in 2026 dollars.
Monthly average price (USD per lb) · 1998
In 1998, ground beef averaged $1.41 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 $1.36 in September to $1.46 in January. Over the year it fell from $1.46 in January to $1.39 in December, a 4.7% decline.
Adjusted for inflation, $1.41 in 1998 is worth about $2.90 in 2026 dollars. Today ground beef averages $6.75 per lb, so in real terms it is 133% more expensive than it was in 1998. In plain (unadjusted) dollars the price is up 378% versus the 1998 average.
1998 monthly prices
| Month | Price | MoM |
|---|---|---|
| January | $1.46 | ▲ 4.7% |
| February | $1.40 | ▼ 4.0% |
| March | $1.41 | ▲ 1.1% |
| April | $1.42 | ▲ 0.4% |
| May | $1.41 | ▼ 0.6% |
| June | $1.39 | ▼ 1.6% |
| July | $1.45 | ▲ 4.3% |
| August | $1.43 | ▼ 1.4% |
| September | $1.36 | ▼ 4.6% |
| October | $1.39 | ▲ 2.4% |
| November | $1.44 | ▲ 3.5% |
| December | $1.39 | ▼ 3.7% |
| 1998 average | $1.41 |
FAQ
What was the average price of ground beef in 1998?
Ground beef averaged $1.41 per lb in 1998, based on 12 months of BLS average price data.
How much is $1.41 of 1998 ground beef worth today?
Adjusted for inflation with the CPI-U, $1.41 in 1998 is about $2.90 in 2026 dollars.
How does the 1998 price of ground beef compare to now?
Ground beef now averages $6.75 per lb, up 378% from the 1998 average of $1.41.