According to the U.S. Bureau of Labor Statistics, prices for medical care services were 5,991.83% higher in 2018 versus 1940 (a $359,509,683.26 difference in value).
Between 1940 and 2018: Medical care services experienced an average inflation rate of 5.41% per year. This rate of change indicates significant inflation. In other words, medical care services costing $6,000,000 in the year 1940 would cost $365,509,683.26 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 3.77% during this same period, inflation for medical care services was higher.
In the year 1940: Pricing changed by 0.24%, which is significantly below the average yearly change for medical care services during the 1940-2018 time period. Compared to inflation for all items in 1940 (0.72%), inflation for medical care services was lower.
Below are calculations of equivalent buying power for Medical care services, over time, for $6,000,000 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 | $6,000,000.00 | 0.24% |
1941 | $6,014,117.65 | 0.24% |
1942 | $6,183,529.41 | 2.82% |
1943 | $6,522,352.94 | 5.48% |
1944 | $6,790,588.24 | 4.11% |
1945 | $6,974,117.65 | 2.70% |
1946 | $7,397,647.06 | 6.07% |
1947 | $8,032,941.18 | 8.59% |
1948 | $8,569,411.76 | 6.68% |
1949 | $8,851,764.71 | 3.29% |
1950 | $9,063,529.41 | 2.39% |
1951 | $9,515,294.12 | 4.98% |
1952 | $10,136,470.59 | 6.53% |
1953 | $10,475,294.12 | 3.34% |
1954 | $10,785,882.35 | 2.96% |
1955 | $11,124,705.88 | 3.14% |
1956 | $11,516,742.08 | 3.52% |
1957 | $12,010,859.73 | 4.29% |
1958 | $12,608,144.80 | 4.97% |
1959 | $13,216,289.59 | 4.82% |
1960 | $13,759,276.02 | 4.11% |
1961 | $14,264,253.39 | 3.67% |
1962 | $14,736,651.58 | 3.31% |
1963 | $15,171,040.72 | 2.95% |
1964 | $15,540,271.49 | 2.43% |
1965 | $16,023,529.41 | 3.11% |
1966 | $16,886,877.83 | 5.39% |
1967 | $18,358,371.04 | 8.71% |
1968 | $19,710,407.24 | 7.36% |
1969 | $21,301,357.47 | 8.07% |
1970 | $22,816,289.59 | 7.11% |
1971 | $24,477,828.05 | 7.28% |
1972 | $25,368,325.79 | 3.64% |
1973 | $26,497,737.56 | 4.45% |
1974 | $29,207,239.82 | 10.23% |
1975 | $32,888,687.78 | 12.60% |
1976 | $36,184,615.38 | 10.02% |
1977 | $39,779,185.52 | 9.93% |
1978 | $43,221,719.46 | 8.65% |
1979 | $47,424,434.39 | 9.72% |
1980 | $52,772,850.68 | 11.28% |
1981 | $58,430,769.23 | 10.72% |
1982 | $65,359,276.02 | 11.86% |
1983 | $71,066,063.35 | 8.73% |
1984 | $75,339,366.52 | 6.01% |
1985 | $79,889,592.76 | 6.04% |
1986 | $86,052,488.69 | 7.71% |
1987 | $91,732,126.70 | 6.60% |
1988 | $97,650,678.73 | 6.45% |
1989 | $105,100,452.49 | 7.63% |
1990 | $114,830,769.23 | 9.26% |
1991 | $125,000,904.98 | 8.86% |
1992 | $134,486,877.83 | 7.59% |
1993 | $143,234,389.14 | 6.50% |
1994 | $150,646,153.85 | 5.17% |
1995 | $158,247,963.80 | 5.05% |
1996 | $164,052,488.69 | 3.67% |
1997 | $168,760,181.00 | 2.87% |
1998 | $174,211,764.71 | 3.23% |
1999 | $180,043,438.91 | 3.35% |
2000 | $187,775,565.61 | 4.29% |
2001 | $196,772,850.68 | 4.79% |
2002 | $206,742,081.45 | 5.07% |
2003 | $215,978,280.54 | 4.47% |
2004 | $226,821,719.46 | 5.02% |
2005 | $237,654,298.64 | 4.78% |
2006 | $247,493,212.67 | 4.14% |
2007 | $260,683,819.00 | 5.33% |
2008 | $271,724,361.99 | 4.24% |
2009 | $280,446,461.54 | 3.21% |
2010 | $290,264,361.99 | 3.50% |
2011 | $299,160,271.49 | 3.06% |
2012 | $310,829,158.37 | 3.90% |
2013 | $320,475,420.81 | 3.10% |
2014 | $328,092,597.29 | 2.38% |
2015 | $336,120,868.78 | 2.45% |
2016 | $349,246,425.34 | 3.91% |
2017 | $357,744,217.19 | 2.43% |
2018 | $365,509,683.26 | 2.17% |
2019 | $378,453,339.37 | 3.54% |
2020 | $397,164,488.69 | 4.94% |
2021 | $404,538,461.54 | 1.86% |
2022 | $421,912,723.98 | 4.29% |
2023 | $420,449,212.67 | -0.35% |
2024 | $427,987,529.41 | 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 |