According to the U.S. Bureau of Labor Statistics, prices for care of invalids and elderly at home are 38.61% higher in 2024 versus 2016 (a $3,860.67 difference in value).
Between 2016 and 2024: Elderly care experienced an average inflation rate of 4.17% per year. This rate of change indicates significant inflation. In other words, elderly care costing $10,000 in the year 2016 would cost $13,860.67 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.39% during this same period, inflation for elderly care was higher.
In the year 2016: Pricing changed by 2.27%, which is below the average yearly change for elderly care during the 2016-2024 time period. Compared to inflation for all items in 2016 (1.26%), inflation for elderly care was higher.
Below are calculations of equivalent buying power for Elderly care, over time, for $10,000 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2016 | $10,000.00 | 2.27% |
| 2017 | $9,924.65 | -0.75% |
| 2018 | $10,021.93 | 0.98% |
| 2019 | $10,298.66 | 2.76% |
| 2020 | $10,706.93 | 3.96% |
| 2021 | $11,489.40 | 7.31% |
| 2022 | $11,894.86 | 3.53% |
| 2023 | $12,658.79 | 6.42% |
| 2024 | $13,860.67 | 9.49%* |
* 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:
| Year | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CPI | 100.000 | 101.777 | 103.164 | 107.882 | 109.872 | 111.280 | 113.133 | 114.470 | 115.117 | 116.704 | 117.878 | 120.550 | 119.642 | 120.815 | 124.151 | 129.072 | 138.505 | 143.393 | 152.602 | 167.091 |