According to the U.S. Bureau of Labor Statistics, prices for medical care commodities were 725.96% higher in 2018 versus 1958 (a $101,634,114 difference in value).
Between 1958 and 2018: Medical care commodities experienced an average inflation rate of 3.58% per year. This rate of change indicates significant inflation. In other words, medical care commodities costing $14,000,000 in the year 1958 would cost $115,634,114 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 3.67% during this same period, inflation for medical care commodities was lower.
In the year 1958: Pricing changed by 3.31%, which is below the average yearly change for medical care commodities during the 1958-2018 time period. Compared to inflation for all items in 1958 (2.74%), inflation for medical care commodities was higher.
Below are calculations of equivalent buying power for Medical care commodities, over time, for $14,000,000 beginning in 1958. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1958 | $14,000,000.00 | 3.31% |
1959 | $14,200,086.62 | 1.43% |
1960 | $14,206,149.85 | 0.04% |
1961 | $14,042,442.62 | -1.15% |
1962 | $13,805,976.61 | -1.68% |
1963 | $13,696,838.46 | -0.79% |
1964 | $13,672,585.53 | -0.18% |
1965 | $13,634,690.34 | -0.28% |
1966 | $13,672,585.53 | 0.28% |
1967 | $13,616,617.25 | -0.41% |
1968 | $13,635,273.35 | 0.14% |
1969 | $13,772,862.04 | 1.01% |
1970 | $14,083,019.62 | 2.25% |
1971 | $14,332,544.89 | 1.77% |
1972 | $14,365,193.06 | 0.23% |
1973 | $14,404,837.26 | 0.28% |
1974 | $14,906,219.81 | 3.48% |
1975 | $16,158,510.18 | 8.40% |
1976 | $17,135,623.15 | 6.05% |
1977 | $18,240,996.77 | 6.45% |
1978 | $19,523,603.29 | 7.03% |
1979 | $20,915,814.37 | 7.13% |
1980 | $22,870,040.31 | 9.34% |
1981 | $25,367,625.01 | 10.92% |
1982 | $27,977,146.28 | 10.29% |
1983 | $30,369,790.45 | 8.55% |
1984 | $32,596,861.78 | 7.33% |
1985 | $34,914,881.57 | 7.11% |
1986 | $37,211,913.25 | 6.58% |
1987 | $39,700,169.90 | 6.69% |
1988 | $42,423,959.76 | 6.86% |
1989 | $45,716,760.50 | 7.76% |
1990 | $49,536,595.93 | 8.36% |
1991 | $53,587,300.53 | 8.18% |
1992 | $57,010,693.94 | 6.39% |
1993 | $59,109,504.61 | 3.68% |
1994 | $60,844,521.44 | 2.94% |
1995 | $61,987,207.25 | 1.88% |
1996 | $63,778,192.36 | 2.89% |
1997 | $65,261,351.90 | 2.33% |
1998 | $67,248,226.01 | 3.04% |
1999 | $69,939,367.69 | 4.00% |
2000 | $72,192,091.15 | 3.22% |
2001 | $75,058,133.72 | 3.97% |
2002 | $77,735,283.34 | 3.57% |
2003 | $79,677,849.22 | 2.50% |
2004 | $81,632,075.16 | 2.45% |
2005 | $83,674,917.55 | 2.50% |
2006 | $86,671,552.79 | 3.58% |
2007 | $87,916,404.04 | 1.44% |
2008 | $89,749,551.92 | 2.09% |
2009 | $92,496,918.41 | 3.06% |
2010 | $95,409,997.67 | 3.15% |
2011 | $98,251,414.20 | 2.98% |
2012 | $101,137,348.84 | 2.94% |
2013 | $101,592,277.71 | 0.45% |
2014 | $104,112,249.73 | 2.48% |
2015 | $107,508,521.84 | 3.26% |
2016 | $111,193,846.82 | 3.43% |
2017 | $114,303,281.47 | 2.80% |
2018 | $115,634,114.00 | 1.16% |
2019 | $115,591,974.55 | -0.04% |
2020 | $116,159,446.31 | 0.49% |
2021 | $114,309,111.50 | -1.59% |
2022 | $117,659,722.82 | 2.93% |
2023 | $122,571,056.40 | 4.17% |
2024 | $123,795,409.27 | 1.00%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Medical care commodities:
Year | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
CPI | 31.700 | 31.600 | 31.800 | 32.000 | 31.900 | 31.800 | 32.000 | 32.800 | 33.000 | 33.300 | 33.600 | 34.200 | 37.000 | 38.680 | 39.200 | 39.760 | 40.880 | 41.200 | 41.600 | 42.040 | 42.540 | 43.460 | 44.700 | 46.180 | 46.840 | 46.860 | 46.320 | 45.540 | 45.180 | 45.100 | 44.975 | 45.100 | 44.915 | 44.977 | 45.431 | 46.454 | 47.277 | 47.385 | 47.515 | 49.169 | 53.300 | 56.523 | 60.169 | 64.400 | 68.992 | 75.438 | 83.677 | 92.285 | 100.177 | 107.523 | 115.169 | 122.746 | 130.954 | 139.938 | 150.800 | 163.400 | 176.762 | 188.054 | 194.977 | 200.700 | 204.469 | 210.377 | 215.269 | 221.823 | 230.700 | 238.131 | 247.585 | 256.415 | 262.823 | 269.269 | 276.008 | 285.892 | 289.999 | 296.045 | 305.108 | 314.717 | 324.089 | 333.609 | 335.109 | 343.422 | 354.625 | 366.781 | 377.038 | 381.427 | 381.288 | 383.160 | 377.057 | 388.109 | 404.309 | 408.348 |