According to the U.S. Bureau of Labor Statistics, prices for care of invalids and elderly at home are 18.69% higher in 2022 versus 2018 (a $1,868.84 difference in value).
Between 2018 and 2022: Elderly care experienced an average inflation rate of 4.38% per year. This rate of change indicates significant inflation. In other words, elderly care costing $10,000 in the year 2018 would cost $11,868.84 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.90% during this same period, inflation for elderly care was higher.
In the year 2018: Pricing changed by 0.98%, which is significantly below the average yearly change for elderly care during the 2018-2022 time period. Compared to inflation for all items in 2018 (2.44%), inflation for elderly care was lower.
Below are calculations of equivalent buying power for Elderly care, over time, for $10,000 beginning in 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation 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: