According to the U.S. Bureau of Labor Statistics, prices for medical care services were 1,558.70% higher in 2019 versus 1970 (a $311,739,600.19 difference in value).
Between 1970 and 2019: Medical care services experienced an average inflation rate of 5.90% per year. This rate of change indicates significant inflation. In other words, medical care services costing $20,000,000 in the year 1970 would cost $331,739,600.19 in 2019 for an equivalent purchase. Compared to the overall inflation rate of 3.92% 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 1970-2019 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 $20,000,000 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 | $20,000,000.00 | 7.11% |
1971 | $21,456,449.31 | 7.28% |
1972 | $22,237,029.99 | 3.64% |
1973 | $23,227,034.75 | 4.45% |
1974 | $25,602,094.24 | 10.23% |
1975 | $28,829,128.99 | 12.60% |
1976 | $31,718,229.41 | 10.02% |
1977 | $34,869,109.95 | 9.93% |
1978 | $37,886,720.61 | 8.65% |
1979 | $41,570,680.63 | 9.72% |
1980 | $46,258,924.32 | 11.28% |
1981 | $51,218,467.40 | 10.72% |
1982 | $57,291,765.83 | 11.86% |
1983 | $62,294,145.64 | 8.73% |
1984 | $66,039,980.96 | 6.01% |
1985 | $70,028,557.83 | 6.04% |
1986 | $75,430,747.26 | 7.71% |
1987 | $80,409,328.89 | 6.60% |
1988 | $85,597,334.60 | 6.45% |
1989 | $92,127,558.31 | 7.63% |
1990 | $100,656,830.08 | 9.26% |
1991 | $109,571,632.56 | 8.86% |
1992 | $117,886,720.61 | 7.59% |
1993 | $125,554,497.86 | 6.50% |
1994 | $132,051,404.09 | 5.17% |
1995 | $138,714,897.67 | 5.05% |
1996 | $143,802,950.98 | 3.67% |
1997 | $147,929,557.35 | 2.87% |
1998 | $152,708,234.17 | 3.23% |
1999 | $157,820,085.67 | 3.35% |
2000 | $164,597,810.57 | 4.29% |
2001 | $172,484,531.18 | 4.79% |
2002 | $181,223,227.03 | 5.07% |
2003 | $189,319,371.73 | 4.47% |
2004 | $198,824,369.35 | 5.02% |
2005 | $208,319,847.69 | 4.78% |
2006 | $216,944,312.23 | 4.14% |
2007 | $228,506,758.69 | 5.33% |
2008 | $238,184,531.18 | 4.24% |
2009 | $245,830,033.32 | 3.21% |
2010 | $254,436,078.06 | 3.50% |
2011 | $262,233,936.22 | 3.06% |
2012 | $272,462,494.05 | 3.90% |
2013 | $280,918,086.63 | 3.10% |
2014 | $287,595,049.98 | 2.38% |
2015 | $294,632,365.54 | 2.45% |
2016 | $306,137,791.53 | 3.91% |
2017 | $313,586,673.01 | 2.43% |
2018 | $320,393,622.08 | 2.17% |
2019 | $331,739,600.19 | 3.54% |
2020 | $348,141,170.87 | 4.94% |
2021 | $354,604,950.02 | 1.86% |
2022 | $369,834,650.17 | 4.29% |
2023 | $368,551,784.86 | -0.35% |
2024 | $375,159,622.40 | 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 |