How much did milk cost in 2023?
Milk averaged $4.03 per gal in 2023 — about $4.43 in 2026 dollars.
Monthly average price (USD per gal) · 2023
In 2023, milk averaged $4.03 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 $3.93 in August to $4.20 in January. Over the year it fell from $4.20 in January to $4.01 in December, a 4.7% decline.
Adjusted for inflation, $4.03 in 2023 is worth about $4.43 in 2026 dollars. Today milk averages $4.22 per gal, so in real terms it is 5% cheaper than it was in 2023. In plain (unadjusted) dollars the price is up 5% versus the 2023 average.
2023 monthly prices
| Month | Price | MoM |
|---|---|---|
| January | $4.20 | ▼ 0.2% |
| February | $4.16 | ▼ 1.0% |
| March | $4.10 | ▼ 1.6% |
| April | $4.04 | ▼ 1.4% |
| May | $4.04 | — 0.0% |
| June | $3.99 | ▼ 1.4% |
| July | $3.97 | ▼ 0.3% |
| August | $3.93 | ▼ 1.1% |
| September | $3.97 | ▲ 1.0% |
| October | $3.93 | ▼ 1.0% |
| November | $4.00 | ▲ 1.8% |
| December | $4.01 | ▲ 0.3% |
| 2023 average | $4.03 |
FAQ
What was the average price of milk in 2023?
Milk averaged $4.03 per gal in 2023, based on 12 months of BLS average price data.
How much is $4.03 of 2023 milk worth today?
Adjusted for inflation with the CPI-U, $4.03 in 2023 is about $4.43 in 2026 dollars.
How does the 2023 price of milk compare to now?
Milk now averages $4.22 per gal, up 5% from the 2023 average of $4.03.