According to the U.S. Bureau of Labor Statistics, prices for medical care services were 1,501.97% higher in 2018 versus 1970 (a $150,196,811.04 difference in value).
Between 1970 and 2018: Medical care services experienced an average inflation rate of 5.95% per year. This rate of change indicates significant inflation. In other words, medical care services costing $10,000,000 in the year 1970 would cost $160,196,811.04 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 3.97% during this same period, inflation for medical care services was higher.
In the year 1970: Pricing changed by 7.11%, which is above the average yearly change for medical care services during the 1970-2018 time period. Compared to inflation for all items in 1970 (5.83%), inflation for medical care services was higher.
Below are calculations of equivalent buying power for Medical care services, over time, for $10,000,000 beginning in 1970. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1970 | $10,000,000.00 | 7.11% |
1971 | $10,728,224.65 | 7.28% |
1972 | $11,118,514.99 | 3.64% |
1973 | $11,613,517.37 | 4.45% |
1974 | $12,801,047.12 | 10.23% |
1975 | $14,414,564.49 | 12.60% |
1976 | $15,859,114.71 | 10.02% |
1977 | $17,434,554.97 | 9.93% |
1978 | $18,943,360.30 | 8.65% |
1979 | $20,785,340.31 | 9.72% |
1980 | $23,129,462.16 | 11.28% |
1981 | $25,609,233.70 | 10.72% |
1982 | $28,645,882.91 | 11.86% |
1983 | $31,147,072.82 | 8.73% |
1984 | $33,019,990.48 | 6.01% |
1985 | $35,014,278.91 | 6.04% |
1986 | $37,715,373.63 | 7.71% |
1987 | $40,204,664.45 | 6.60% |
1988 | $42,798,667.30 | 6.45% |
1989 | $46,063,779.15 | 7.63% |
1990 | $50,328,415.04 | 9.26% |
1991 | $54,785,816.28 | 8.86% |
1992 | $58,943,360.30 | 7.59% |
1993 | $62,777,248.93 | 6.50% |
1994 | $66,025,702.05 | 5.17% |
1995 | $69,357,448.83 | 5.05% |
1996 | $71,901,475.49 | 3.67% |
1997 | $73,964,778.68 | 2.87% |
1998 | $76,354,117.09 | 3.23% |
1999 | $78,910,042.84 | 3.35% |
2000 | $82,298,905.28 | 4.29% |
2001 | $86,242,265.59 | 4.79% |
2002 | $90,611,613.52 | 5.07% |
2003 | $94,659,685.86 | 4.47% |
2004 | $99,412,184.67 | 5.02% |
2005 | $104,159,923.85 | 4.78% |
2006 | $108,472,156.12 | 4.14% |
2007 | $114,253,379.34 | 5.33% |
2008 | $119,092,265.59 | 4.24% |
2009 | $122,915,016.66 | 3.21% |
2010 | $127,218,039.03 | 3.50% |
2011 | $131,116,968.11 | 3.06% |
2012 | $136,231,247.03 | 3.90% |
2013 | $140,459,043.31 | 3.10% |
2014 | $143,797,524.99 | 2.38% |
2015 | $147,316,182.77 | 2.45% |
2016 | $153,068,895.76 | 3.91% |
2017 | $156,793,336.51 | 2.43% |
2018 | $160,196,811.04 | 2.17% |
2019 | $165,869,800.10 | 3.54% |
2020 | $174,070,585.44 | 4.94% |
2021 | $177,302,475.01 | 1.86% |
2022 | $184,917,325.08 | 4.29% |
2023 | $184,275,892.43 | -0.35% |
2024 | $187,579,811.20 | 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 |