According to the U.S. Bureau of Labor Statistics, prices for medical care commodities were 859.32% higher in 2018 versus 1950 (a $8,593,244.08 difference in value).
Between 1950 and 2018: Medical care commodities experienced an average inflation rate of 3.38% per year. This rate of change indicates significant inflation. In other words, medical care commodities costing $1,000,000 in the year 1950 would cost $9,593,244.08 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 3.51% during this same period, inflation for medical care commodities was lower.
In the year 1950: Pricing changed by 1.43%, which is below the average yearly change for medical care commodities during the 1950-2018 time period. Compared to inflation for all items in 1950 (1.10%), inflation for medical care commodities was higher.
Below are calculations of equivalent buying power for Medical care commodities, over time, for $1,000,000 beginning in 1950. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1950 | $1,000,000.00 | 1.43% |
1951 | $1,028,169.01 | 2.82% |
1952 | $1,036,217.30 | 0.78% |
1953 | $1,046,277.67 | 0.97% |
1954 | $1,057,344.06 | 1.06% |
1955 | $1,069,919.52 | 1.19% |
1956 | $1,093,058.35 | 2.16% |
1957 | $1,124,245.47 | 2.85% |
1958 | $1,161,468.81 | 3.31% |
1959 | $1,178,068.41 | 1.43% |
1960 | $1,178,571.43 | 0.04% |
1961 | $1,164,989.94 | -1.15% |
1962 | $1,145,372.23 | -1.68% |
1963 | $1,136,317.91 | -0.79% |
1964 | $1,134,305.84 | -0.18% |
1965 | $1,131,161.97 | -0.28% |
1966 | $1,134,305.84 | 0.28% |
1967 | $1,129,662.59 | -0.41% |
1968 | $1,131,210.34 | 0.14% |
1969 | $1,142,624.98 | 1.01% |
1970 | $1,168,356.29 | 2.25% |
1971 | $1,189,057.42 | 1.77% |
1972 | $1,191,765.98 | 0.23% |
1973 | $1,195,054.95 | 0.28% |
1974 | $1,236,650.67 | 3.48% |
1975 | $1,340,543.26 | 8.40% |
1976 | $1,421,606.56 | 6.05% |
1977 | $1,513,310.63 | 6.45% |
1978 | $1,619,718.31 | 7.03% |
1979 | $1,735,219.01 | 7.13% |
1980 | $1,897,345.61 | 9.34% |
1981 | $2,104,550.38 | 10.92% |
1982 | $2,321,041.63 | 10.29% |
1983 | $2,519,540.32 | 8.55% |
1984 | $2,704,302.74 | 7.33% |
1985 | $2,896,610.43 | 7.11% |
1986 | $3,087,176.91 | 6.58% |
1987 | $3,293,607.80 | 6.69% |
1988 | $3,519,579.01 | 6.86% |
1989 | $3,792,756.54 | 7.76% |
1990 | $4,109,657.95 | 8.36% |
1991 | $4,445,712.74 | 8.18% |
1992 | $4,729,724.50 | 6.39% |
1993 | $4,903,846.15 | 3.68% |
1994 | $5,047,786.72 | 2.94% |
1995 | $5,142,586.29 | 1.88% |
1996 | $5,291,170.10 | 2.89% |
1997 | $5,414,216.07 | 2.33% |
1998 | $5,579,051.23 | 3.04% |
1999 | $5,802,313.88 | 4.00% |
2000 | $5,989,204.46 | 3.22% |
2001 | $6,226,977.25 | 3.97% |
2002 | $6,449,079.09 | 3.57% |
2003 | $6,610,238.35 | 2.50% |
2004 | $6,772,364.96 | 2.45% |
2005 | $6,941,843.37 | 2.50% |
2006 | $7,190,450.39 | 3.58% |
2007 | $7,293,725.82 | 1.44% |
2008 | $7,445,807.54 | 2.09% |
2009 | $7,673,734.72 | 3.06% |
2010 | $7,915,409.77 | 3.15% |
2011 | $8,151,139.53 | 2.98% |
2012 | $8,390,562.61 | 2.94% |
2013 | $8,428,304.44 | 0.45% |
2014 | $8,637,366.51 | 2.48% |
2015 | $8,919,128.23 | 3.26% |
2016 | $9,224,870.38 | 3.43% |
2017 | $9,482,835.47 | 2.80% |
2018 | $9,593,244.08 | 1.16% |
2019 | $9,589,748.10 | -0.04% |
2020 | $9,636,826.73 | 0.49% |
2021 | $9,483,319.15 | -1.59% |
2022 | $9,761,292.76 | 2.93% |
2023 | $10,168,747.10 | 4.17% |
2024 | $10,270,321.93 | 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 |