According to the U.S. Bureau of Labor Statistics, prices for hospital and related services are 36.78% higher in 2024 versus 2016 (a $7.36 difference in value).
Between 2016 and 2024: Hospital and related services experienced an average inflation rate of 3.99% per year. This rate of change indicates significant inflation. In other words, hospital and related services costing $20 in the year 2016 would cost $27.36 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.39% during this same period, inflation for hospital and related services was higher.
In the year 2016: Pricing changed by 4.37%, which is above the average yearly change for hospital and related services during the 2016-2024 time period. Compared to inflation for all items in 2016 (1.26%), inflation for hospital and related services was much higher.
Below are calculations of equivalent buying power for Hospital and related services, over time, for $20 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2016 | $20.00 | 4.37% |
| 2017 | $20.92 | 4.60% |
| 2018 | $21.81 | 4.24% |
| 2019 | $22.26 | 2.10% |
| 2020 | $23.17 | 4.06% |
| 2021 | $23.90 | 3.14% |
| 2022 | $24.79 | 3.74% |
| 2023 | $25.86 | 4.31% |
| 2024 | $27.36 | 5.79%* |
* 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 Hospital and related services:
| Year | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CPI | 51.800 | 55.077 | 60.992 | 69.208 | 79.085 | 90.269 | 100.531 | 109.208 | 116.138 | 123.100 | 131.646 | 143.938 | 160.485 | 178.000 | 196.092 | 214.008 | 231.923 | 245.608 | 257.769 | 269.492 | 278.431 | 287.515 | 299.492 | 317.308 | 338.292 | 367.762 | 394.800 | 417.900 | 439.877 | 468.092 | 498.922 | 533.953 | 567.879 | 607.679 | 641.488 | 672.078 | 701.344 | 733.841 | 761.853 | 795.127 | 831.696 | 866.942 | 885.160 | 921.079 | 950.005 | 985.537 | 1028.019 | 1087.575 |