According to the U.S. Bureau of Labor Statistics, prices for care of invalids and elderly at home are 14.23% higher in 2022 versus 2019 (a $1,422.86 difference in value).
Between 2019 and 2022: Elderly care experienced an average inflation rate of 4.53% per year. This rate of change indicates significant inflation. In other words, elderly care costing $10,000 in the year 2019 would cost $11,422.86 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 4.23% during this same period, inflation for elderly care was higher.
In the year 2019: Pricing changed by 2.76%, which is below the average yearly change for elderly care during the 2019-2022 time period. Compared to inflation for all items in 2019 (1.81%), inflation for elderly care was higher.
Below are calculations of equivalent buying power for Elderly care, over time, for $10,000 beginning in 2019. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Care of invalids and elderly at home: