According to the U.S. Bureau of Labor Statistics, prices for care of invalids and elderly at home were 12.57% higher in 2021 versus 2017 (a $1,256.76 difference in value).
Between 2017 and 2021: Elderly care experienced an average inflation rate of 3% per year. This rate of change indicates significant inflation. In other words, elderly care costing $10,000 in the year 2017 would cost $11,256.76 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 1.64% during this same period, inflation for elderly care was higher.
In the year 2017: Pricing changed by -0.75%, which is significantly below the average yearly change for elderly care during the 2017-2021 time period. Compared to inflation for all items in 2017 (2.13%), inflation for elderly care was lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Care of invalids and elderly at home:
Below are calculations of equivalent buying power for Elderly care, over time, for $10000 beginning in 2017. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|