According to the U.S. Bureau of Labor Statistics, prices for care of invalids and elderly at home are 9.49% higher in 2024 versus 2023 (a $949.44 difference in value).
Between 2023 and 2024: Elderly care experienced an average inflation rate of 9.49% per year. This rate of change indicates significant inflation. In other words, elderly care costing $10,000 in the year 2023 would cost $10,949.44 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.83% during this same period, inflation for elderly care was significantly higher.
In the year 2023: Pricing changed by 6.42%, which is significantly below the average yearly change for elderly care during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for elderly care was higher.
Below are calculations of equivalent buying power for Elderly care, over time, for $10,000 beginning in 2023. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2023 | $10,000.00 | 6.42% |
| 2024 | $10,949.44 | 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 |