According to the U.S. Bureau of Labor Statistics, prices for medical care services were 6,207.56% higher in 2019 versus 1940 (a $124,151,113.12 difference in value).
Between 1940 and 2019: Medical care services experienced an average inflation rate of 5.39% per year. This rate of change indicates significant inflation. In other words, medical care services costing $2,000,000 in the year 1940 would cost $126,151,113.12 in 2019 for an equivalent purchase. Compared to the overall inflation rate of 3.74% 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 1940-2019 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 $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 | 0.24% |
1941 | $2,004,705.88 | 0.24% |
1942 | $2,061,176.47 | 2.82% |
1943 | $2,174,117.65 | 5.48% |
1944 | $2,263,529.41 | 4.11% |
1945 | $2,324,705.88 | 2.70% |
1946 | $2,465,882.35 | 6.07% |
1947 | $2,677,647.06 | 8.59% |
1948 | $2,856,470.59 | 6.68% |
1949 | $2,950,588.24 | 3.29% |
1950 | $3,021,176.47 | 2.39% |
1951 | $3,171,764.71 | 4.98% |
1952 | $3,378,823.53 | 6.53% |
1953 | $3,491,764.71 | 3.34% |
1954 | $3,595,294.12 | 2.96% |
1955 | $3,708,235.29 | 3.14% |
1956 | $3,838,914.03 | 3.52% |
1957 | $4,003,619.91 | 4.29% |
1958 | $4,202,714.93 | 4.97% |
1959 | $4,405,429.86 | 4.82% |
1960 | $4,586,425.34 | 4.11% |
1961 | $4,754,751.13 | 3.67% |
1962 | $4,912,217.19 | 3.31% |
1963 | $5,057,013.57 | 2.95% |
1964 | $5,180,090.50 | 2.43% |
1965 | $5,341,176.47 | 3.11% |
1966 | $5,628,959.28 | 5.39% |
1967 | $6,119,457.01 | 8.71% |
1968 | $6,570,135.75 | 7.36% |
1969 | $7,100,452.49 | 8.07% |
1970 | $7,605,429.86 | 7.11% |
1971 | $8,159,276.02 | 7.28% |
1972 | $8,456,108.60 | 3.64% |
1973 | $8,832,579.19 | 4.45% |
1974 | $9,735,746.61 | 10.23% |
1975 | $10,962,895.93 | 12.60% |
1976 | $12,061,538.46 | 10.02% |
1977 | $13,259,728.51 | 9.93% |
1978 | $14,407,239.82 | 8.65% |
1979 | $15,808,144.80 | 9.72% |
1980 | $17,590,950.23 | 11.28% |
1981 | $19,476,923.08 | 10.72% |
1982 | $21,786,425.34 | 11.86% |
1983 | $23,688,687.78 | 8.73% |
1984 | $25,113,122.17 | 6.01% |
1985 | $26,629,864.25 | 6.04% |
1986 | $28,684,162.90 | 7.71% |
1987 | $30,577,375.57 | 6.60% |
1988 | $32,550,226.24 | 6.45% |
1989 | $35,033,484.16 | 7.63% |
1990 | $38,276,923.08 | 9.26% |
1991 | $41,666,968.33 | 8.86% |
1992 | $44,828,959.28 | 7.59% |
1993 | $47,744,796.38 | 6.50% |
1994 | $50,215,384.62 | 5.17% |
1995 | $52,749,321.27 | 5.05% |
1996 | $54,684,162.90 | 3.67% |
1997 | $56,253,393.67 | 2.87% |
1998 | $58,070,588.24 | 3.23% |
1999 | $60,014,479.64 | 3.35% |
2000 | $62,591,855.20 | 4.29% |
2001 | $65,590,950.23 | 4.79% |
2002 | $68,914,027.15 | 5.07% |
2003 | $71,992,760.18 | 4.47% |
2004 | $75,607,239.82 | 5.02% |
2005 | $79,218,099.55 | 4.78% |
2006 | $82,497,737.56 | 4.14% |
2007 | $86,894,606.33 | 5.33% |
2008 | $90,574,787.33 | 4.24% |
2009 | $93,482,153.85 | 3.21% |
2010 | $96,754,787.33 | 3.50% |
2011 | $99,720,090.50 | 3.06% |
2012 | $103,609,719.46 | 3.90% |
2013 | $106,825,140.27 | 3.10% |
2014 | $109,364,199.10 | 2.38% |
2015 | $112,040,289.59 | 2.45% |
2016 | $116,415,475.11 | 3.91% |
2017 | $119,248,072.40 | 2.43% |
2018 | $121,836,561.09 | 2.17% |
2019 | $126,151,113.12 | 3.54% |
2020 | $132,388,162.90 | 4.94% |
2021 | $134,846,153.85 | 1.86% |
2022 | $140,637,574.66 | 4.29% |
2023 | $140,149,737.56 | -0.35% |
2024 | $142,662,509.80 | 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 |