According to the U.S. Bureau of Labor Statistics, prices for medical care commodities were 1,099.02% higher in 2019 versus 1940 (a $21,980,401.55 difference in value).
Between 1940 and 2019: Medical care commodities experienced an average inflation rate of 3.19% per year. This rate of change indicates significant inflation. In other words, medical care commodities costing $2,000,000 in the year 1940 would cost $23,980,401.55 in 2019 for an equivalent purchase. Compared to the overall inflation rate of 3.74% during this same period, inflation for medical care commodities was lower.
In the year 1940: Pricing changed by -0.31%, which is significantly below the average yearly change for medical care commodities during the 1940-2019 time period. Compared to inflation for all items in 1940 (0.72%), inflation for medical care commodities was lower.
Below are calculations of equivalent buying power for Medical care commodities, over time, for $2,000,000 beginning in 1940. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1940 | $2,000,000.00 | -0.31% |
1941 | $2,012,578.62 | 0.63% |
1942 | $2,062,893.08 | 2.50% |
1943 | $2,075,471.70 | 0.61% |
1944 | $2,094,339.62 | 0.91% |
1945 | $2,113,207.55 | 0.90% |
1946 | $2,150,943.40 | 1.79% |
1947 | $2,327,044.03 | 8.19% |
1948 | $2,432,704.40 | 4.54% |
1949 | $2,465,408.81 | 1.34% |
1950 | $2,500,628.93 | 1.43% |
1951 | $2,571,069.18 | 2.82% |
1952 | $2,591,194.97 | 0.78% |
1953 | $2,616,352.20 | 0.97% |
1954 | $2,644,025.16 | 1.06% |
1955 | $2,675,471.70 | 1.19% |
1956 | $2,733,333.33 | 2.16% |
1957 | $2,811,320.75 | 2.85% |
1958 | $2,904,402.52 | 3.31% |
1959 | $2,945,911.95 | 1.43% |
1960 | $2,947,169.81 | 0.04% |
1961 | $2,913,207.55 | -1.15% |
1962 | $2,864,150.94 | -1.68% |
1963 | $2,841,509.43 | -0.79% |
1964 | $2,836,477.99 | -0.18% |
1965 | $2,828,616.35 | -0.28% |
1966 | $2,836,477.99 | 0.28% |
1967 | $2,824,866.96 | -0.41% |
1968 | $2,828,737.30 | 0.14% |
1969 | $2,857,281.08 | 1.01% |
1970 | $2,921,625.54 | 2.25% |
1971 | $2,973,391.39 | 1.77% |
1972 | $2,980,164.49 | 0.23% |
1973 | $2,988,388.97 | 0.28% |
1974 | $3,092,404.45 | 3.48% |
1975 | $3,352,201.26 | 8.40% |
1976 | $3,554,910.50 | 6.05% |
1977 | $3,784,228.35 | 6.45% |
1978 | $4,050,314.47 | 7.03% |
1979 | $4,339,138.85 | 7.13% |
1980 | $4,744,557.33 | 9.34% |
1981 | $5,262,699.56 | 10.92% |
1982 | $5,804,063.86 | 10.29% |
1983 | $6,300,435.41 | 8.55% |
1984 | $6,762,457.67 | 7.33% |
1985 | $7,243,347.85 | 7.11% |
1986 | $7,719,883.89 | 6.58% |
1987 | $8,236,090.95 | 6.69% |
1988 | $8,801,161.10 | 6.86% |
1989 | $9,484,276.73 | 7.76% |
1990 | $10,276,729.56 | 8.36% |
1991 | $11,117,077.89 | 8.18% |
1992 | $11,827,285.92 | 6.39% |
1993 | $12,262,699.56 | 3.68% |
1994 | $12,622,641.51 | 2.94% |
1995 | $12,859,700.05 | 1.88% |
1996 | $13,231,253.02 | 2.89% |
1997 | $13,538,945.33 | 2.33% |
1998 | $13,951,136.91 | 3.04% |
1999 | $14,509,433.96 | 4.00% |
2000 | $14,976,777.94 | 3.22% |
2001 | $15,571,359.46 | 3.97% |
2002 | $16,126,753.75 | 3.57% |
2003 | $16,529,753.27 | 2.50% |
2004 | $16,935,171.75 | 2.45% |
2005 | $17,358,974.36 | 2.50% |
2006 | $17,980,648.28 | 3.58% |
2007 | $18,238,901.79 | 1.44% |
2008 | $18,619,201.74 | 2.09% |
2009 | $19,189,163.04 | 3.06% |
2010 | $19,793,502.66 | 3.15% |
2011 | $20,382,975.33 | 2.98% |
2012 | $20,981,683.60 | 2.94% |
2013 | $21,076,061.93 | 0.45% |
2014 | $21,598,848.57 | 2.48% |
2015 | $22,303,430.09 | 3.26% |
2016 | $23,067,977.75 | 3.43% |
2017 | $23,713,052.73 | 2.80% |
2018 | $23,989,143.69 | 1.16% |
2019 | $23,980,401.55 | -0.04% |
2020 | $24,098,127.72 | 0.49% |
2021 | $23,714,262.22 | -1.59% |
2022 | $24,409,371.07 | 2.93% |
2023 | $25,428,263.18 | 4.17% |
2024 | $25,682,264.15 | 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 |