According to the U.S. Bureau of Labor Statistics, prices for medical care are 1,546.35% higher in 2024 versus 1970 (a $1,608,205,083.82 difference in value).
Between 1970 and 2024: Medical care experienced an average inflation rate of 5.32% per year. This rate of change indicates significant inflation. In other words, medical care costing $104,000,000 in the year 1970 would cost $1,712,205,083.82 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.93% during this same period, inflation for medical care was higher.
In the year 1970: Pricing changed by 6.36%, which is above the average yearly change for medical care during the 1970-2024 time period. Compared to inflation for all items in 1970 (5.83%), inflation for medical care was higher.
Below are calculations of equivalent buying power for Medical care, over time, for $104,000,000 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 | $104,000,000.00 | 6.36% |
1971 | $110,714,997.73 | 6.46% |
1972 | $114,296,329.86 | 3.23% |
1973 | $118,725,872.22 | 3.88% |
1974 | $129,776,166.74 | 9.31% |
1975 | $145,420,933.39 | 12.06% |
1976 | $159,251,472.59 | 9.51% |
1977 | $174,472,134.12 | 9.56% |
1978 | $189,198,006.34 | 8.44% |
1979 | $206,704,123.24 | 9.25% |
1980 | $229,346,624.38 | 10.95% |
1981 | $253,991,844.13 | 10.75% |
1982 | $283,467,149.98 | 11.60% |
1983 | $308,112,369.73 | 8.69% |
1984 | $327,291,345.72 | 6.22% |
1985 | $347,695,514.27 | 6.23% |
1986 | $373,801,540.55 | 7.51% |
1987 | $398,611,690.08 | 6.64% |
1988 | $424,647,032.17 | 6.53% |
1989 | $457,161,758.04 | 7.66% |
1990 | $498,653,375.62 | 9.08% |
1991 | $542,194,834.62 | 8.73% |
1992 | $582,178,522.88 | 7.37% |
1993 | $616,908,019.94 | 5.97% |
1994 | $646,336,202.99 | 4.77% |
1995 | $675,293,158.13 | 4.48% |
1996 | $699,043,044.86 | 3.52% |
1997 | $718,528,318.99 | 2.79% |
1998 | $741,642,048.03 | 3.22% |
1999 | $767,536,021.75 | 3.49% |
2000 | $798,684,186.68 | 4.06% |
2001 | $835,463,525.15 | 4.60% |
2002 | $874,787,494.34 | 4.71% |
2003 | $909,941,096.51 | 4.02% |
2004 | $949,924,784.78 | 4.39% |
2005 | $990,026,280.02 | 4.22% |
2006 | $1,029,727,231.54 | 4.01% |
2007 | $1,075,270,702.31 | 4.42% |
2008 | $1,115,123,860.44 | 3.71% |
2009 | $1,150,496,347.98 | 3.17% |
2010 | $1,189,771,309.47 | 3.41% |
2011 | $1,225,981,404.62 | 3.04% |
2012 | $1,270,904,268.24 | 3.66% |
2013 | $1,302,178,957.86 | 2.46% |
2014 | $1,333,292,016.31 | 2.39% |
2015 | $1,368,393,312.19 | 2.63% |
2016 | $1,420,226,968.74 | 3.79% |
2017 | $1,455,901,984.59 | 2.51% |
2018 | $1,484,648,536.47 | 1.97% |
2019 | $1,526,630,702.31 | 2.83% |
2020 | $1,589,306,135.02 | 4.11% |
2021 | $1,608,911,807.88 | 1.23% |
2022 | $1,674,083,334.84 | 4.05% |
2023 | $1,681,835,033.98 | 0.46% |
2024 | $1,712,205,083.82 | 1.81%* |
* 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:
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 | 10.200 | 10.200 | 10.300 | 10.300 | 10.360 | 10.360 | 10.420 | 10.740 | 11.260 | 11.580 | 11.900 | 12.560 | 13.538 | 14.377 | 14.838 | 15.115 | 15.838 | 16.700 | 17.292 | 17.823 | 18.238 | 18.908 | 19.685 | 20.623 | 21.492 | 22.254 | 22.923 | 23.531 | 24.092 | 24.585 | 25.185 | 26.300 | 28.154 | 29.862 | 31.923 | 33.954 | 36.146 | 37.315 | 38.762 | 42.369 | 47.477 | 51.992 | 56.962 | 61.769 | 67.485 | 74.877 | 82.923 | 92.546 | 100.592 | 106.854 | 113.515 | 122.038 | 130.138 | 138.638 | 149.254 | 162.800 | 177.015 | 190.069 | 201.408 | 211.015 | 220.469 | 228.223 | 234.585 | 242.131 | 250.585 | 260.754 | 272.762 | 285.600 | 297.077 | 310.131 | 323.223 | 336.185 | 351.054 | 364.065 | 375.613 | 388.436 | 400.258 | 414.924 | 425.134 | 435.292 | 446.752 | 463.675 | 475.322 | 484.707 | 498.413 | 518.876 | 525.276 | 546.554 | 549.084 | 559.000 |