According to the U.S. Bureau of Labor Statistics, prices for medical care services were 1,151.44% higher in 2018 versus 1974 (a $241,801,394.31 difference in value).
Between 1974 and 2018: Medical care services experienced an average inflation rate of 5.91% per year. This rate of change indicates significant inflation. In other words, medical care services costing $21,000,000 in the year 1974 would cost $262,801,394.31 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 1974: Pricing changed by 10.23%, which is significantly above the average yearly change for medical care services during the 1974-2018 time period. Compared to inflation for all items in 1974 (11.05%), inflation for medical care services was lower.
Below are calculations of equivalent buying power for Medical care services, over time, for $21,000,000 beginning in 1974. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1974 | $21,000,000.00 | 10.23% |
1975 | $23,646,960.40 | 12.60% |
1976 | $26,016,731.73 | 10.02% |
1977 | $28,601,226.99 | 9.93% |
1978 | $31,076,408.25 | 8.65% |
1979 | $34,098,159.51 | 9.72% |
1980 | $37,943,669.83 | 11.28% |
1981 | $42,011,712.21 | 10.72% |
1982 | $46,993,307.31 | 11.86% |
1983 | $51,096,486.34 | 8.73% |
1984 | $54,168,990.52 | 6.01% |
1985 | $57,440,602.34 | 6.04% |
1986 | $61,871,723.37 | 7.71% |
1987 | $65,955,382.04 | 6.60% |
1988 | $70,210,819.85 | 6.45% |
1989 | $75,567,205.80 | 7.63% |
1990 | $82,563,301.73 | 9.26% |
1991 | $89,875,627.44 | 8.86% |
1992 | $96,696,040.16 | 7.59% |
1993 | $102,985,499.16 | 6.50% |
1994 | $108,314,556.61 | 5.17% |
1995 | $113,780,256.55 | 5.05% |
1996 | $117,953,708.87 | 3.67% |
1997 | $121,338,538.76 | 2.87% |
1998 | $125,258,226.44 | 3.23% |
1999 | $129,451,199.11 | 3.35% |
2000 | $135,010,596.77 | 4.29% |
2001 | $141,479,643.06 | 4.79% |
2002 | $148,647,518.13 | 5.07% |
2003 | $155,288,343.56 | 4.47% |
2004 | $163,084,774.12 | 5.02% |
2005 | $170,873,396.54 | 4.78% |
2006 | $177,947,573.90 | 4.14% |
2007 | $187,431,617.40 | 5.33% |
2008 | $195,369,765.76 | 4.24% |
2009 | $201,640,953.71 | 3.21% |
2010 | $208,700,022.31 | 3.50% |
2011 | $215,096,179.59 | 3.06% |
2012 | $223,486,107.08 | 3.90% |
2013 | $230,421,767.99 | 3.10% |
2014 | $235,898,516.45 | 2.38% |
2015 | $241,670,842.16 | 2.45% |
2016 | $251,108,114.89 | 3.91% |
2017 | $257,218,025.66 | 2.43% |
2018 | $262,801,394.31 | 2.17% |
2019 | $272,107,880.65 | 3.54% |
2020 | $285,561,193.53 | 4.94% |
2021 | $290,863,078.64 | 1.86% |
2022 | $303,355,170.11 | 4.29% |
2023 | $302,302,905.74 | -0.35% |
2024 | $307,722,954.08 | 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 |