Elderly care priced at $10,000 in 2008 $13,797.59 in 2023

Elderly Care Inflation Calculator


Prices for Elderly Care, 2008-2023 ($10,000)

According to the U.S. Bureau of Labor Statistics, prices for care of invalids and elderly at home are 37.98% higher in 2023 versus 2008 (a $3,797.59 difference in value).

Between 2008 and 2023: Elderly care experienced an average inflation rate of 2.17% per year. This rate of change indicates significant inflation. In other words, elderly care costing $10,000 in the year 2008 would cost $13,797.59 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.24% during this same period, inflation for elderly care was lower.

In the year 2008: Pricing changed by 4.57%, which is above the average yearly change for elderly care during the 2008-2023 time period. Compared to inflation for all items in 2008 (3.84%), inflation for elderly care was higher.

Price Inflation for Care of invalids and elderly at home since 2005

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2021 (7.31%), 2008 (4.57%), and 2020 (3.96%).

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Buying power of $10,000.00 since 2008

Below are calculations of equivalent buying power for Elderly care, over time, for $10,000 beginning in 2008. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate

* 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 Care of invalids and elderly at home:


Adjust elderly care prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2008 * 2008 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Care of invalids and elderly at home was 107.882 in the year 2008 and 148.851 in 2023:

148.851 / 107.882 * $10,000 = $13,797.59

Therefore, according to U.S. Bureau of Labor Statistics, $10,000 in 2008 has the same "purchasing power" as $13,797.59 in 2023 (in the CPI category of Care of invalids and elderly at home).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Care of invalids and elderly at home in 2005. In addition to elderly care, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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