According to the U.S. Bureau of Labor Statistics, prices for medical care are 2,408.01% higher in 2024 versus 1960 (a $1,444,805,945,385,412.75 difference in value).
Between 1960 and 2024: Medical care experienced an average inflation rate of 5.16% per year. This rate of change indicates significant inflation. In other words, medical care costing $60,000,000,000,000 in the year 1960 would cost $1,504,805,945,385,412.75 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.74% during this same period, inflation for medical care was higher.
In the year 1960: Pricing changed by 3.54%, which is below the average yearly change for medical care during the 1960-2024 time period. Compared to inflation for all items in 1960 (1.48%), inflation for medical care was higher.
Below are calculations of equivalent buying power for Medical care, over time, for $60,000,000,000,000 beginning in 1960. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1960 | $60,000,000,000,000.00 | 3.54% |
1961 | $61,804,355,340,477.02 | 3.01% |
1962 | $63,442,792,948,496.37 | 2.65% |
1963 | $64,956,792,257,172.48 | 2.39% |
1964 | $66,284,134,116,833.74 | 2.04% |
1965 | $67,901,832,008,295.88 | 2.44% |
1966 | $70,909,090,909,090.89 | 4.43% |
1967 | $75,907,362,599,377.81 | 7.05% |
1968 | $80,511,579,675,077.77 | 6.07% |
1969 | $86,069,823,712,409.27 | 6.90% |
1970 | $91,545,108,883,511.91 | 6.36% |
1971 | $97,455,928,102,315.94 | 6.46% |
1972 | $100,608,365,019,011.41 | 3.23% |
1973 | $104,507,431,731,766.31 | 3.88% |
1974 | $114,234,358,797,096.42 | 9.31% |
1975 | $128,005,530,591,081.91 | 12.06% |
1976 | $140,179,744,210,162.44 | 9.51% |
1977 | $153,577,601,106,118.19 | 9.56% |
1978 | $166,539,923,954,372.63 | 8.44% |
1979 | $181,949,533,356,377.44 | 9.25% |
1980 | $201,880,400,967,853.44 | 10.95% |
1981 | $223,574,144,486,692.00 | 10.75% |
1982 | $249,519,529,899,758.03 | 11.60% |
1983 | $271,213,273,418,596.63 | 8.69% |
1984 | $288,095,402,696,163.13 | 6.22% |
1985 | $306,055,997,234,704.44 | 6.23% |
1986 | $329,035,603,180,089.94 | 7.51% |
1987 | $350,874,524,714,828.88 | 6.64% |
1988 | $373,791,911,510,542.75 | 6.53% |
1989 | $402,412,720,359,488.38 | 7.66% |
1990 | $438,935,361,216,730.00 | 9.08% |
1991 | $477,262,357,414,448.63 | 8.73% |
1992 | $512,457,656,412,029.13 | 7.37% |
1993 | $543,027,998,617,352.19 | 5.97% |
1994 | $568,931,904,597,303.88 | 4.77% |
1995 | $594,421,016,246,111.25 | 4.48% |
1996 | $615,326,650,535,776.00 | 3.52% |
1997 | $632,478,396,128,586.13 | 2.79% |
1998 | $652,824,058,071,206.25 | 3.22% |
1999 | $675,617,006,567,576.88 | 3.49% |
2000 | $703,034,911,856,204.63 | 4.06% |
2001 | $735,409,609,402,005.00 | 4.60% |
2002 | $770,024,196,335,983.50 | 4.71% |
2003 | $800,967,853,439,336.38 | 4.02% |
2004 | $836,163,152,436,916.75 | 4.39% |
2005 | $871,462,150,017,283.00 | 4.22% |
2006 | $906,408,572,416,177.00 | 4.01% |
2007 | $946,497,822,329,761.50 | 4.42% |
2008 | $981,578,223,297,614.88 | 3.71% |
2009 | $1,012,714,552,367,784.38 | 3.17% |
2010 | $1,047,286,000,691,323.88 | 3.41% |
2011 | $1,079,159,626,685,102.13 | 3.04% |
2012 | $1,118,702,592,464,569.75 | 3.66% |
2013 | $1,146,231,870,031,109.00 | 2.46% |
2014 | $1,173,618,873,142,067.00 | 2.39% |
2015 | $1,204,516,488,074,663.00 | 2.63% |
2016 | $1,250,142,620,117,525.00 | 3.79% |
2017 | $1,281,545,247,148,289.00 | 2.51% |
2018 | $1,306,849,153,128,240.50 | 1.97% |
2019 | $1,343,803,594,884,203.25 | 2.83% |
2020 | $1,398,973,107,500,864.00 | 4.11% |
2021 | $1,416,230,833,045,281.50 | 1.23% |
2022 | $1,473,597,511,234,013.00 | 4.05% |
2023 | $1,480,420,877,981,334.00 | 0.46% |
2024 | $1,504,805,945,385,412.75 | 1.65%* |
* 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:
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 | 10.200 | 10.200 | 10.300 | 10.300 | 10.360 | 10.360 | 10.420 | 10.740 | 11.260 | 11.580 | 11.900 | 12.560 | 13.538 | 14.377 | 14.838 | 15.115 | 15.838 | 16.700 | 17.292 | 17.823 | 18.238 | 18.908 | 19.685 | 20.623 | 21.492 | 22.254 | 22.923 | 23.531 | 24.092 | 24.585 | 25.185 | 26.300 | 28.154 | 29.862 | 31.923 | 33.954 | 36.146 | 37.315 | 38.762 | 42.369 | 47.477 | 51.992 | 56.962 | 61.769 | 67.485 | 74.877 | 82.923 | 92.546 | 100.592 | 106.854 | 113.515 | 122.038 | 130.138 | 138.638 | 149.254 | 162.800 | 177.015 | 190.069 | 201.408 | 211.015 | 220.469 | 228.223 | 234.585 | 242.131 | 250.585 | 260.754 | 272.762 | 285.600 | 297.077 | 310.131 | 323.223 | 336.185 | 351.054 | 364.065 | 375.613 | 388.436 | 400.258 | 414.924 | 425.134 | 435.292 | 446.752 | 463.675 | 475.322 | 484.707 | 498.413 | 518.876 | 525.276 | 546.554 | 549.084 | 558.129 |