According to the U.S. Bureau of Labor Statistics, prices for care of invalids and elderly at home were 5.81% higher in 2021 versus 2020 (a $581.23 difference in value).
Between 2020 and 2021: Elderly care experienced an average inflation rate of 5.81% per year. This rate of change indicates significant inflation. In other words, elderly care costing $10,000 in the year 2020 would cost $10,581.23 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 2.45% during this same period, inflation for elderly care was significantly higher.
In the year 2020: Pricing changed by 3.96%, which is below the average yearly change for elderly care during the 2020-2021 time period. Compared to inflation for all items in 2020 (1.23%), inflation for elderly care was higher.
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 2020. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|