A gallon of whole milk cost $4.11 in September 2026, down 0.6% from a year earlier. In 2000 the average was $2.78, about $5.44 in today's dollars.
Adjust any amount for inflation
Every year since 1996
- Price at the time
- In September 2026 dollars
| Year | Average price | In today's dollars |
|---|---|---|
| 2025 | $4.07 | $4.26 |
| 2024 | $3.98 | $4.28 |
| 2023 | $4.03 | $4.45 |
| 2022 | $4.09 | $4.71 |
| 2021 | $3.54 | $4.41 |
| 2020 | $3.32 | $4.32 |
| 2019 | $3.04 | $4.00 |
| 2018 | $2.90 | $3.89 |
| 2017 | $3.23 | $4.43 |
| 2016 | $3.20 | $4.50 |
| 2015 | $3.42 | $4.86 |
| 2014 | $3.69 | $5.26 |
| 2013 | $3.46 | $5.01 |
| 2012 | $3.49 | $5.13 |
| 2011 | $3.57 | $5.35 |
| 2010 | $3.26 | $5.03 |
| 2009 | $3.11 | $4.88 |
| 2008 | $3.80 | $5.94 |
| 2007 | $3.50 | $5.69 |
| 2006 | $3.08 | $5.15 |
| 2005 | $3.19 | $5.50 |
| 2004 | $3.16 | $5.63 |
| 2003 | $2.76 | $5.06 |
| 2002 | $2.76 | $5.16 |
| 2001 | $2.88 | $5.49 |
| 2000 | $2.78 | $5.44 |
| 1999 | $2.84 | $5.75 |
| 1998 | $2.70 | $5.59 |
| 1997 | $2.61 | $5.49 |
| 1996 | $2.62 | $5.63 |
Yearly averages of monthly U.S. city average prices; a year counts once BLS published at least 10 of its months. Today's dollars use the all-items CPI to September 2026.
Against inflation
| Since | Milk prices | All prices |
|---|---|---|
| 2000 | up 48% | up 96% |
| 1996 | up 57% | up 115% |
Since 2000, milk prices lagged behind inflation; since 1996, milk prices lagged behind it.
Biggest yearly jumps
- 2022: up 15.4% from 2021 ($3.54 to $4.09)
- 2004: up 14.3% from 2003 ($2.76 to $3.16)
- 2007: up 13.7% from 2006 ($3.08 to $3.50)
Minutes of work
At the average hourly wage of production and nonsupervisory workers, a gallon of whole milk took 13.1 minutes of work in 1996 ($12.04 an hour) and 7.6 minutes in September 2026 ($32.54 an hour).
What moved milk prices
Whole milk rose 15.4% in 2022. ERS says farm milk prices reached record highs that year, while feed costs also climbed after Russia's war against Ukraine drove up corn prices; BLS reported raw milk prices up 48.9% over the year to March 2022. The steepest fall, 18.1% in 2009, came as the farm price of milk declined sharply; USDA's February 2009 projections linked lower farm milk prices partly to dairy exports falling from their 2008 peak. Over the year to September 2026 whole milk fell 0.6%, while ERS reported farm-level milk prices 10.2% lower and USDA projected higher milk production in 2026.
Reviewed October 17, 2026. Sources:
- BLS: data series APU0000709112
- USDA ERS: Amber Waves, "Falling Milk Prices Led to Record Program Payments for Dairy Producers in 2023" (September 2024)
- BLS: The Economics Daily, "Eggflation rate lower, milk prices decrease, in February 2023"
- USDA ERS: Amber Waves, "Retail Dairy Prices Fluctuate With Farm Value of Milk" (December 2009)
- USDA ERS: USDA Long-term Projections, February 2009 (livestock section)
- USDA ERS: Food Price Outlook, Summary Findings (September 2026 edition)
Sources
- BLS series APU0000709112: Whole milk (U.S. city average, to September 2026)
- BLS Consumer Price Index, all items (CPI-U)
- BLS average price data and average hourly earnings of production and nonsupervisory workers (CEU0500000008)
- How we use these figures: our methodology
General information, not financial advice.