Medical care commodities priced at $2,900 in 1967 $24,657.47 in 2018

Historical Price Inflation for Medical care commodities

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Prices for Medical Care Commodities, 1967-2018 ($2,900)

According to the U.S. Bureau of Labor Statistics, prices for medical care commodities were 750.26% higher in 2018 versus 1967 (a $21,757.47 difference in value).

Between 1967 and 2018: Medical care commodities experienced an average inflation rate of 4.29% per year. This rate of change indicates significant inflation. In other words, medical care commodities costing $2,900 in the year 1967 would cost $24,657.47 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 4.03% during this same period, inflation for medical care commodities was higher.

Price Inflation for Medical care commodities since 1967

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1981 (10.92%), 1982 (10.32%), and 1980 (9.33%).

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Medical care commodities:

Year 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
CPI 44.900 45.000 45.408 46.458 47.267 47.383 47.542 49.175 53.308 56.525 60.158 64.383 68.983 75.417 83.650 92.283 100.192 107.525 115.167 122.733 130.942 139.950 150.800 163.400 176.767 188.050 194.992 200.700 204.467 210.375 215.258 221.817 230.700 238.133 247.592 256.408 262.817 269.275 276.008 285.892 289.998 296.070 305.111 314.699 324.065 333.586 335.093 343.410 354.615 366.776 377.038 381.766

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Buying power of $2900 since 1967

Below are calculations of equivalent buying power for Medical care commodities, over time, for $2900 beginning in 1967. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year USD Value Inflation Rate
1967 $2,900.00 -
1968 $2,906.46 0.22%
1969 $2,932.83 0.91%
1970 $3,000.65 2.31%
1971 $3,052.86 1.74%
1972 $3,060.39 0.25%
1973 $3,070.62 0.33%
1974 $3,176.11 3.44%
1975 $3,443.08 8.41%
1976 $3,650.84 6.03%
1977 $3,885.50 6.43%
1978 $4,158.39 7.02%
1979 $4,455.49 7.14%
1980 $4,871.01 9.33%
1981 $5,402.78 10.92%
1982 $5,960.39 10.32%
1983 $6,471.18 8.57%
1984 $6,944.82 7.32%
1985 $7,438.38 7.11%
1986 $7,927.10 6.57%
1987 $8,457.26 6.69%
1988 $9,039.09 6.88%
1989 $9,739.87 7.75%
1990 $10,553.67 8.36%
1991 $11,417.00 8.18%
1992 $12,145.77 6.38%
1993 $12,594.12 3.69%
1994 $12,962.81 2.93%
1995 $13,206.09 1.88%
1996 $13,587.69 2.89%
1997 $13,903.10 2.32%
1998 $14,326.69 3.05%
1999 $14,900.45 4.00%
2000 $15,380.55 3.22%
2001 $15,991.44 3.97%
2002 $16,560.89 3.56%
2003 $16,974.80 2.50%
2004 $17,391.93 2.46%
2005 $17,826.82 2.50%
2006 $18,465.16 3.58%
2007 $18,730.42 1.44%
2008 $19,122.53 2.09%
2009 $19,706.51 3.05%
2010 $20,325.74 3.14%
2011 $20,930.69 2.98%
2012 $21,545.67 2.94%
2013 $21,642.98 0.45%
2014 $22,180.15 2.48%
2015 $22,903.86 3.26%
2016 $23,689.30 3.43%
2017 $24,352.10 2.80%
2018 $24,657.47 1.25%*
* Not final. See inflation summary for latest details.

How to calculate the inflation rate for medical care commodities, 1967-2018

Start with the inflation rate formula:

CPI in 2018 / CPI in 1967 * 1967 USD value = 2018 USD value

Then plug in historical CPI values from above. The CPI for Medical care commodities was 44.900 in the year 1967 and 381.766 in 2018:

381.766 / 44.900 * $2,900 = $24,657.47

Therefore, according to U.S. Bureau of Labor Statistics, $2,900 in 1967 has the same "purchasing power" as $24,657.47 in 2018 (in the CPI category of Medical care commodities).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Medical care commodities in 1967. In addition to medical care commodities, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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