How much did milk cost in 1996?
Milk averaged $2.62 per gal in 1996 — about $5.60 in 2026 dollars.
Monthly average price (USD per gal) · 1996
In 1996, milk averaged $2.62 per gal 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 $2.53 in May to $2.75 in November. Over the year it rose from $2.55 in January to $2.73 in December, a 7.1% increase.
Adjusted for inflation, $2.62 in 1996 is worth about $5.60 in 2026 dollars. Today milk averages $4.22 per gal, so in real terms it is 25% cheaper than it was in 1996. In plain (unadjusted) dollars the price is up 61% versus the 1996 average.
1996 monthly prices
| Month | Price | MoM |
|---|---|---|
| January | $2.55 | ▲ 1.1% |
| February | $2.54 | ▼ 0.2% |
| March | $2.54 | ▼ 0.1% |
| April | $2.54 | ▼ 0.1% |
| May | $2.53 | ▼ 0.2% |
| June | $2.60 | ▲ 2.6% |
| July | $2.65 | ▲ 1.9% |
| August | $2.67 | ▲ 0.6% |
| September | $2.67 | — 0.0% |
| October | $2.73 | ▲ 2.4% |
| November | $2.75 | ▲ 0.6% |
| December | $2.73 | ▼ 0.7% |
| 1996 average | $2.62 |
FAQ
What was the average price of milk in 1996?
Milk averaged $2.62 per gal in 1996, based on 12 months of BLS average price data.
How much is $2.62 of 1996 milk worth today?
Adjusted for inflation with the CPI-U, $2.62 in 1996 is about $5.60 in 2026 dollars.
How does the 1996 price of milk compare to now?
Milk now averages $4.22 per gal, up 61% from the 1996 average of $2.62.