How much did milk cost in 1998?
Milk averaged $2.70 per gal in 1998 — about $5.55 in 2026 dollars.
Monthly average price (USD per gal) · 1998
In 1998, milk averaged $2.70 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 $2.62 in June to $2.86 in December. Over the year it rose from $2.63 in January to $2.86 in December, a 8.6% increase.
Adjusted for inflation, $2.70 in 1998 is worth about $5.55 in 2026 dollars. Today milk averages $4.22 per gal, so in real terms it is 24% cheaper than it was in 1998. In plain (unadjusted) dollars the price is up 56% versus the 1998 average.
1998 monthly prices
| Month | Price | MoM |
|---|---|---|
| January | $2.63 | ▼ 1.5% |
| February | $2.65 | ▲ 0.8% |
| March | $2.66 | ▲ 0.2% |
| April | $2.67 | ▲ 0.4% |
| May | $2.67 | ▼ 0.1% |
| June | $2.62 | ▼ 1.6% |
| July | $2.63 | ▲ 0.2% |
| August | $2.72 | ▲ 3.4% |
| September | $2.76 | ▲ 1.5% |
| October | $2.79 | ▲ 1.0% |
| November | $2.80 | ▲ 0.5% |
| December | $2.86 | ▲ 2.1% |
| 1998 average | $2.70 |
FAQ
What was the average price of milk in 1998?
Milk averaged $2.70 per gal in 1998, based on 12 months of BLS average price data.
How much is $2.70 of 1998 milk worth today?
Adjusted for inflation with the CPI-U, $2.70 in 1998 is about $5.55 in 2026 dollars.
How does the 1998 price of milk compare to now?
Milk now averages $4.22 per gal, up 56% from the 1998 average of $2.70.