According to the U.S. Bureau of Labor Statistics, prices for medical care commodities were 711.64% higher in 2017 versus 1970 (a $62,624.23 difference in value).
Between 1970 and 2017: Medical care commodities experienced an average inflation rate of 4.56% per year. This rate of change indicates significant inflation. In other words, medical care commodities costing $8,800 in the year 1970 would cost $71,424.23 in 2017 for an equivalent purchase. Compared to the overall inflation rate of 4.00% during this same period, inflation for medical care commodities was higher.
In the year 1970: Pricing changed by 2.25%, which is below the average yearly change for medical care commodities during the 1970-2017 time period. Compared to inflation for all items in 1970 (5.83%), inflation for medical care commodities was much lower.
Below are calculations of equivalent buying power for Medical care commodities, over time, for $8,800 beginning in 1970. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1970 | $8,800.00 | 2.25% |
1971 | $8,955.92 | 1.77% |
1972 | $8,976.32 | 0.23% |
1973 | $9,001.09 | 0.28% |
1974 | $9,314.39 | 3.48% |
1975 | $10,096.90 | 8.40% |
1976 | $10,707.47 | 6.05% |
1977 | $11,398.18 | 6.45% |
1978 | $12,199.64 | 7.03% |
1979 | $13,069.58 | 7.13% |
1980 | $14,290.71 | 9.34% |
1981 | $15,851.37 | 10.92% |
1982 | $17,481.97 | 10.29% |
1983 | $18,977.05 | 8.55% |
1984 | $20,368.67 | 7.33% |
1985 | $21,817.12 | 7.11% |
1986 | $23,252.46 | 6.58% |
1987 | $24,807.29 | 6.69% |
1988 | $26,509.29 | 6.86% |
1989 | $28,566.85 | 7.76% |
1990 | $30,953.73 | 8.36% |
1991 | $33,484.88 | 8.18% |
1992 | $35,624.04 | 6.39% |
1993 | $36,935.52 | 3.68% |
1994 | $38,019.67 | 2.94% |
1995 | $38,733.70 | 1.88% |
1996 | $39,852.82 | 2.89% |
1997 | $40,779.60 | 2.33% |
1998 | $42,021.13 | 3.04% |
1999 | $43,702.73 | 4.00% |
2000 | $45,110.38 | 3.22% |
2001 | $46,901.28 | 3.97% |
2002 | $48,574.13 | 3.57% |
2003 | $49,787.98 | 2.50% |
2004 | $51,009.11 | 2.45% |
2005 | $52,285.61 | 2.50% |
2006 | $54,158.11 | 3.58% |
2007 | $54,935.97 | 1.44% |
2008 | $56,081.44 | 2.09% |
2009 | $57,798.18 | 3.06% |
2010 | $59,618.46 | 3.15% |
2011 | $61,393.97 | 2.98% |
2012 | $63,197.29 | 2.94% |
2013 | $63,481.56 | 0.45% |
2014 | $65,056.20 | 2.48% |
2015 | $67,178.42 | 3.26% |
2016 | $69,481.25 | 3.43% |
2017 | $71,424.23 | 2.80% |
2018 | $72,255.83 | 1.16% |
2019 | $72,229.49 | -0.04% |
2020 | $72,584.09 | 0.49% |
2021 | $71,427.88 | -1.59% |
2022 | $73,521.56 | 2.93% |
2023 | $76,590.48 | 4.17% |
2024 | $77,301.46 | 0.93%* |
* 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 | 408.063 |