According to the U.S. Bureau of Labor Statistics, prices for medical care are 1,555.93% higher in 2024 versus 1970 (a $7,343,978,291.30 difference in value).
Between 1970 and 2024: Medical care experienced an average inflation rate of 5.34% per year. This rate of change indicates significant inflation. In other words, medical care costing $472,000,000 in the year 1970 would cost $7,815,978,291.30 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.94% 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 $472,000,000 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 | $472,000,000.00 | 6.36% |
| 1971 | $502,475,758.95 | 6.46% |
| 1972 | $518,729,497.05 | 3.23% |
| 1973 | $538,832,804.71 | 3.88% |
| 1974 | $588,984,141.37 | 9.31% |
| 1975 | $659,987,313.09 | 12.06% |
| 1976 | $722,756,683.28 | 9.51% |
| 1977 | $791,835,070.23 | 9.56% |
| 1978 | $858,667,874.94 | 8.44% |
| 1979 | $938,118,713.19 | 9.25% |
| 1980 | $1,040,880,833.71 | 10.95% |
| 1981 | $1,152,732,215.68 | 10.75% |
| 1982 | $1,286,504,757.59 | 11.60% |
| 1983 | $1,398,356,139.56 | 8.69% |
| 1984 | $1,485,399,184.41 | 6.22% |
| 1985 | $1,578,002,718.62 | 6.23% |
| 1986 | $1,696,483,914.82 | 7.51% |
| 1987 | $1,809,083,824.20 | 6.64% |
| 1988 | $1,927,244,222.93 | 6.53% |
| 1989 | $2,074,811,055.73 | 7.66% |
| 1990 | $2,263,119,166.29 | 9.08% |
| 1991 | $2,460,730,403.26 | 8.73% |
| 1992 | $2,642,194,834.62 | 7.37% |
| 1993 | $2,799,813,321.25 | 5.97% |
| 1994 | $2,933,371,998.19 | 4.77% |
| 1995 | $3,064,792,025.37 | 4.48% |
| 1996 | $3,172,579,972.81 | 3.52% |
| 1997 | $3,261,013,140.01 | 2.79% |
| 1998 | $3,365,913,910.29 | 3.22% |
| 1999 | $3,483,432,714.09 | 3.49% |
| 2000 | $3,624,797,462.62 | 4.06% |
| 2001 | $3,791,719,075.67 | 4.60% |
| 2002 | $3,970,189,397.37 | 4.71% |
| 2003 | $4,129,732,668.78 | 4.02% |
| 2004 | $4,311,197,100.14 | 4.39% |
| 2005 | $4,493,196,193.93 | 4.22% |
| 2006 | $4,673,377,435.43 | 4.01% |
| 2007 | $4,880,074,725.87 | 4.42% |
| 2008 | $5,060,946,751.25 | 3.71% |
| 2009 | $5,221,483,425.46 | 3.17% |
| 2010 | $5,399,731,327.59 | 3.41% |
| 2011 | $5,564,069,451.74 | 3.04% |
| 2012 | $5,767,950,140.46 | 3.66% |
| 2013 | $5,909,889,116.45 | 2.46% |
| 2014 | $6,051,094,535.57 | 2.39% |
| 2015 | $6,210,400,416.86 | 2.63% |
| 2016 | $6,445,645,473.49 | 3.79% |
| 2017 | $6,607,555,160.85 | 2.51% |
| 2018 | $6,738,020,280.92 | 1.97% |
| 2019 | $6,928,554,725.87 | 2.83% |
| 2020 | $7,213,004,766.65 | 4.11% |
| 2021 | $7,301,984,358.86 | 1.23% |
| 2022 | $7,597,762,827.37 | 4.05% |
| 2023 | $7,632,943,615.77 | 0.46% |
| 2024 | $7,815,978,291.30 | 2.40%* |
* 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 | 562.251 |