According to the U.S. Bureau of Labor Statistics, prices for medical care services were 5,879.04% higher in 2016 versus 1935 (a $1,410,970,206.83 difference in value).
Between 1935 and 2016: Medical care services experienced an average inflation rate of 5.18% per year. This rate of change indicates significant inflation. In other words, medical care services costing $24,000,000 in the year 1935 would cost $1,434,970,206.83 in 2016 for an equivalent purchase. Compared to the overall inflation rate of 3.60% during this same period, inflation for medical care services was higher.
Below are calculations of equivalent buying power for Medical care services, over time, for $24,000,000 beginning in 1935. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1935 | $24,000,000.00 | - |
1936 | $24,120,845.92 | 0.50% |
1937 | $24,362,537.76 | 1.00% |
1938 | $24,362,537.76 | 0.00% ** |
1939 | $24,594,561.93 | 0.95% |
1940 | $24,652,567.98 | 0.24% |
1941 | $24,710,574.02 | 0.24% |
1942 | $25,406,646.53 | 2.82% |
1943 | $26,798,791.54 | 5.48% |
1944 | $27,900,906.34 | 4.11% |
1945 | $28,654,984.89 | 2.70% |
1946 | $30,395,166.16 | 6.07% |
1947 | $33,005,438.07 | 8.59% |
1948 | $35,209,667.67 | 6.68% |
1949 | $36,369,788.52 | 3.29% |
1950 | $37,239,879.15 | 2.39% |
1951 | $39,096,072.51 | 4.98% |
1952 | $41,648,338.37 | 6.53% |
1953 | $43,040,483.38 | 3.34% |
1954 | $44,316,616.31 | 2.96% |
1955 | $45,708,761.33 | 3.14% |
1956 | $47,319,544.50 | 3.52% |
1957 | $49,349,755.98 | 4.29% |
1958 | $51,803,857.77 | 4.97% |
1959 | $54,302,579.60 | 4.82% |
1960 | $56,533,581.22 | 4.11% |
1961 | $58,608,412.74 | 3.67% |
1962 | $60,549,384.15 | 3.31% |
1963 | $62,334,185.45 | 2.95% |
1964 | $63,851,266.56 | 2.43% |
1965 | $65,836,858.01 | 3.11% |
1966 | $69,384,150.59 | 5.39% |
1967 | $75,430,165.00 | 8.71% |
1968 | $80,985,359.05 | 7.36% |
1969 | $87,522,193.82 | 8.07% |
1970 | $93,746,688.36 | 7.11% |
1971 | $100,573,553.33 | 7.28% |
1972 | $104,232,396.00 | 3.64% |
1973 | $108,872,879.39 | 4.45% |
1974 | $120,005,577.50 | 10.23% |
1975 | $135,131,768.53 | 12.60% |
1976 | $148,673,948.41 | 10.02% |
1977 | $163,443,179.18 | 9.93% |
1978 | $177,587,729.49 | 8.65% |
1979 | $194,855,682.08 | 9.72% |
1980 | $216,831,048.11 | 11.28% |
1981 | $240,078,085.06 | 10.72% |
1982 | $268,545,665.81 | 11.86% |
1983 | $291,993,492.91 | 8.73% |
1984 | $309,551,475.71 | 6.01% |
1985 | $328,247,269.35 | 6.04% |
1986 | $353,569,137.81 | 7.71% |
1987 | $376,905,414.83 | 6.60% |
1988 | $401,223,332.56 | 6.45% |
1989 | $431,832,674.88 | 7.63% |
1990 | $471,812,224.03 | 9.26% |
1991 | $513,598,884.50 | 8.86% |
1992 | $552,574,482.92 | 7.59% |
1993 | $588,515,919.13 | 6.50% |
1994 | $618,969,091.33 | 5.17% |
1995 | $650,203,114.11 | 5.05% |
1996 | $674,052,521.50 | 3.67% |
1997 | $693,395,305.60 | 2.87% |
1998 | $715,794,561.93 | 3.23% |
1999 | $739,755,519.41 | 3.35% |
2000 | $771,524,982.57 | 4.29% |
2001 | $808,492,679.53 | 4.79% |
2002 | $849,453,869.39 | 5.07% |
2003 | $887,403,207.06 | 4.47% |
2004 | $931,956,309.55 | 5.02% |
2005 | $976,464,792.01 | 4.78% |
2006 | $1,016,890,541.48 | 4.14% |
2007 | $1,071,087,594.70 | 5.33% |
2008 | $1,116,450,550.78 | 4.24% |
2009 | $1,152,287,576.11 | 3.21% |
2010 | $1,192,626,985.82 | 3.50% |
2011 | $1,229,178,154.78 | 3.06% |
2012 | $1,277,122,825.94 | 3.90% |
2013 | $1,316,757,016.04 | 3.10% |
2014 | $1,348,054,176.16 | 2.38% |
2015 | $1,381,040,427.61 | 2.45% |
2016 | $1,434,970,206.83 | 3.91% |
2017 | $1,469,885,605.39 | 2.43% |
2018 | $1,501,792,052.06 | 2.17% |
2019 | $1,554,974,445.74 | 3.54% |
2020 | $1,631,854,092.49 | 4.94% |
2021 | $1,662,151,986.99 | 1.86% |
2022 | $1,733,538,684.64 | 4.29% |
2023 | $1,727,525,465.95 | -0.35% |
2024 | $1,758,498,610.27 | 1.79%* |
* 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 services:
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 | 8.275 | 8.317 | 8.400 | 8.400 | 8.480 | 8.500 | 8.520 | 8.760 | 9.240 | 9.620 | 9.880 | 10.480 | 11.380 | 12.140 | 12.540 | 12.840 | 13.480 | 14.360 | 14.840 | 15.280 | 15.760 | 16.315 | 17.015 | 17.862 | 18.723 | 19.492 | 20.208 | 20.877 | 21.492 | 22.015 | 22.700 | 23.923 | 26.008 | 27.923 | 30.177 | 32.323 | 34.677 | 35.938 | 37.538 | 41.377 | 46.592 | 51.262 | 56.354 | 61.231 | 67.185 | 74.762 | 82.777 | 92.592 | 100.677 | 106.731 | 113.177 | 121.908 | 129.954 | 138.338 | 148.892 | 162.677 | 177.085 | 190.523 | 202.915 | 213.415 | 224.185 | 232.408 | 239.077 | 246.800 | 255.062 | 266.015 | 278.762 | 292.885 | 305.969 | 321.331 | 336.677 | 350.615 | 369.302 | 384.943 | 397.299 | 411.208 | 423.810 | 440.341 | 454.007 | 464.798 | 476.171 | 494.766 | 506.804 | 517.805 | 536.142 | 562.650 | 573.096 | 597.710 | 595.636 | 606.316 |