Minimum wage and prices: what each item cost against a paycheck
Year by year, the federal minimum wage (hourly, December value), the prices of bread, rice, ground beef, electricity and gasoline and the share of each item in a full-time monthly paycheck — complete series from 2000 to 2026. The basket adds 1 unit of each item (1 lb of bread, 1 lb of rice, 1 lb of ground beef, 1 kWh of electricity, 1 gallon of gasoline). Percentages are price ÷ the full-time monthly equivalent of the federal minimum wage (hourly wage × 40 hours × 52 weeks ÷ 12).
2026 is partial (January–September): the wage of $7.25/hour has been in force since July 2009, and 2026 prices are averages of the nine monthly BLS observations published so far.
The federal minimum wage has been frozen at $7.25 since July 24, 2009 — 17 years without an increase. Many states set higher minimums; this page tracks the federal rate only.
The basket costs 2.7× its 2000 price; the wage rose 1.4×.
Basket of 5 items · 2026*
$13.89 · 1.11%
Partial year (Jan–Sep 2026 prices). Ground beef alone: $6.81/lb.
The spreadsheet, ready to download
Download the .xls file with 2000–2026 filled in: federal minimum wage, monthly equivalent, and the prices of bread, rice, ground beef, electricity and gasoline (BLS Average Prices via FRED). The percentage of each item over the monthly wage is calculated automatically by formula (price ÷ wage × 100), and the last column brings the 5-item basket (sum of 1 unit of each item).
Explore a year
Drag the slider or use the arrows to see the wage and prices for that year.
2026*
Federal minimum wage (per hour)
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Monthly equivalent (40 h/week)
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Basket · 5 items
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Basket · % of monthly wage
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Item prices in this year
The trend in charts
Three views of the series: the federal minimum wage per hour, its full-time monthly equivalent, and the weight of the 5-item basket on that monthly paycheck.
Federal minimum wage, $/hour, 2000–2026
From $5.15 in 2000 to $7.25 since 2009.
Monthly equivalent (40 h/week), $, 2000–2026
Hourly wage × 40 hours × 52 weeks ÷ 12.
Basket of 5 items as % of monthly wage, 2000–2026
Basket ÷ monthly equivalent. From 0.51% in 2000 to 0.99% in 2025 (1.11% in partial 2026).
Year-by-year table
Minimum wage = federal rate in force in December. Monthly equivalent = hourly wage × 40 hours × 52 weeks ÷ 12. Percentage = price ÷ monthly equivalent × 100. Basket = sum of 1 unit of each item (bread 1 lb + rice 1 lb + ground beef 1 lb + electricity 1 kWh + gasoline 1 gallon).
Year
Min. wage ($/hour)
Monthly equiv. (40 h/wk)
Bread 1 lb
Rice 1 lb
Ground beef 1 lb
Electricity $/kWh
Gasoline $/gal
Basket (5 items)
2026 is partial (Jan–Sep): prices are averages of the nine monthly BLS observations published so far; the wage has been $7.25 since July 2009.
Rice 2001: N/A — BLS collected no rice prices from May 2000 to April 2002. Rice 2000 rests on Jan–Apr only; 2002 on May–Dec only.
2025 annual averages rest on 11 months (October 2025 missing) for bread, rice, ground beef and electricity; ground beef 2012 also rests on 11 months (October 2012 missing); rice April 2020 is missing.
Percentages use the full-time monthly equivalent of the federal minimum wage as the base.
Methodology and limits
How each series was built
Minimum wage: federal rate in force in December (U.S. Department of Labor, history of changes). Raised on July 24, 2007 ($5.85), July 24, 2008 ($6.55) and July 24, 2009 ($7.25).
Monthly equivalent: hourly wage × 40 hours × 52 weeks ÷ 12 — the full-time paycheck used as the base for the percentages.
Prices: BLS Average Prices (U.S. city average), annual averages of the monthly observations, via FRED. Units: bread 1 lb, rice 1 lb, ground beef 1 lb, electricity per kWh, gasoline per gallon.
Percentage: price ÷ monthly equivalent × 100.
Basket: sum of 1 unit of each item.
Caveats
2026 is partial (Jan–Sep): FRED publishes an annual average only for a completed year; the 2026 values are simple means of the 9 monthly observations.
Rice: no BLS collection from May 2000 to April 2002 — 2001 has no value; 2000 rests on Jan–Apr and 2002 on May–Dec.
Some annual averages rest on 11 months (Oct 2025 missing for bread, rice, beef and electricity; Oct 2012 missing for beef; Apr 2020 missing for rice).
State minimums: many states set higher minimums; this page tracks the federal rate only.
Nominal values: not inflation-adjusted. Gasoline averaged $3.97 in Jan–Sep 2026 vs $3.26 in 2025 — re-check against the BLS table before quoting as a headline.