Hospital services priced at $500 in 2000 $1,431.86 in 2018

Historical Price Inflation for Hospital services

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Prices for Hospital Services, 2000-2018 ($500)

According to the U.S. Bureau of Labor Statistics, prices for hospital services were 186.37% higher in 2018 versus 2000 (a $931.86 difference in value).

Between 2000 and 2018: Hospital services experienced an average inflation rate of 6.02% per year. This rate of change indicates significant inflation. In other words, hospital services costing $500 in the year 2000 would cost $1,431.86 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 2.12% during this same period, inflation for hospital services was significantly higher.

In the year 2000: Pricing changed by 5.99%, which is below the average yearly change for hospital services during the 2000-2018 time period. Compared to inflation for all items in 2000 (3.38%), inflation for hospital services was higher.

Price Inflation for Hospital services since 1997

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2002 (8.94%), 2010 (7.82%), and 2003 (7.45%).

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Hospital services:

Year 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
CPI 101.675 104.950 109.333 115.883 123.642 134.700 144.742 153.383 161.583 172.167 183.567 197.198 210.740 227.228 241.230 253.576 265.460 278.767 290.149 303.278 318.185 331.857

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Buying power of $500 since 2000

Below are calculations of equivalent buying power for Hospital services, over time, for $500 beginning in 2000. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year USD Value Inflation Rate
2000 $500.00 5.99%
2001 $533.47 6.69%
2002 $581.19 8.94%
2003 $624.51 7.45%
2004 $661.80 5.97%
2005 $697.18 5.35%
2006 $742.84 6.55%
2007 $792.04 6.62%
2008 $850.85 7.43%
2009 $909.28 6.87%
2010 $980.42 7.82%
2011 $1,040.83 6.16%
2012 $1,094.10 5.12%
2013 $1,145.38 4.69%
2014 $1,202.79 5.01%
2015 $1,251.90 4.08%
2016 $1,308.55 4.53%
2017 $1,372.87 4.92%
2018 $1,431.86 4.30%*
* Not final. See inflation summary for latest details.

How to calculate the inflation rate for hospital services, 2000-2018

Start with the inflation rate formula:

CPI in 2018 / CPI in 2000 * 2000 USD value = 2018 USD value

Then plug in historical CPI values from above. The CPI for Hospital services was 115.883 in the year 2000 and 331.857 in 2018:

331.857 / 115.883 * $500 = $1,431.86

Therefore, according to U.S. Bureau of Labor Statistics, $500 in 2000 has the same "purchasing power" as $1,431.86 in 2018 (in the CPI category of Hospital services).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Hospital services in 1997. In addition to hospital services, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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