Elderly care priced at $10,000 in 2023 $10,772.62 in 2024

Elderly Care Inflation Calculator

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Prices for Elderly Care, 2023-2024 ($10,000)

According to the U.S. Bureau of Labor Statistics, prices for care of invalids and elderly at home are 7.73% higher in 2024 versus 2023 (a $772.62 difference in value).

Between 2023 and 2024: Elderly care experienced an average inflation rate of 7.73% per year. This rate of change indicates significant inflation. In other words, elderly care costing $10,000 in the year 2023 would cost $10,772.62 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 1.86% during this same period, inflation for elderly care was significantly higher.

In the year 2023: Pricing changed by 6.42%, which is 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.

Price Inflation for Care of invalids and elderly at home since 2005

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2024 (7.73%), 2021 (7.31%), and 2023 (6.42%).

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Buying power of $10,000.00 since 2023

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:

YearUSD ValueInflation Rate
2023$10,000.006.42%
2024$10,772.627.73%*

* 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:

Year20052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI100.000101.777103.164107.882109.872111.280113.133114.470115.117116.704117.878120.550119.642120.815124.151129.072138.505143.393152.602164.392

Adjust elderly care prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2023 * 2023 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Care of invalids and elderly at home was 152.602 in the year 2023 and 164.392 in 2024:

164.392 / 152.602 * $10,000 = $10,772.62

Therefore, according to U.S. Bureau of Labor Statistics, $10,000 in 2023 has the same "purchasing power" as $10,772.62 in 2024 (in the CPI category of Care of invalids and elderly at home).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Care of invalids and elderly at home in 2005. In addition to elderly care, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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