Hospital services priced at $500 in 1996 $1,749.47 in 2020

Hospital Services Inflation Calculator

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Prices for Hospital Services, 1996-2020 ($500)

According to the U.S. Bureau of Labor Statistics, prices for hospital services were 249.89% higher in 2020 versus 1996 (a $1,249.47 difference in value).

Between 1996 and 2020: Hospital services experienced an average inflation rate of 5.36% per year. This rate of change indicates significant inflation. In other words, hospital services costing $500 in the year 1996 would cost $1,749.47 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 2.10% during this same period, inflation for hospital services was significantly higher.

Price Inflation for Hospital services since 1996

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2002 (8.95%), 2010 (7.83%), and 2003 (7.45%).

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Hospital services:

Year 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
CPI 100.000 101.692 104.954 109.323 115.885 123.631 134.692 144.723 153.369 161.569 172.131 183.551 197.186 210.731 227.227 241.213 253.563 265.448 278.754 290.132 303.260 318.170 332.237 338.814 349.894

View price changes for other categories
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Buying power of $500 since 1996

Below are calculations of equivalent buying power for Hospital services, over time, for $500 beginning in 1996. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year USD Value Inflation Rate
1996 $500.00 -
1997 $508.46 1.69%
1998 $524.77 3.21%
1999 $546.62 4.16%
2000 $579.42 6.00%
2001 $618.15 6.68%
2002 $673.46 8.95%
2003 $723.62 7.45%
2004 $766.85 5.97%
2005 $807.85 5.35%
2006 $860.65 6.54%
2007 $917.75 6.63%
2008 $985.93 7.43%
2009 $1,053.66 6.87%
2010 $1,136.13 7.83%
2011 $1,206.06 6.16%
2012 $1,267.81 5.12%
2013 $1,327.24 4.69%
2014 $1,393.77 5.01%
2015 $1,450.66 4.08%
2016 $1,516.30 4.53%
2017 $1,590.85 4.92%
2018 $1,661.18 4.42%
2019 $1,694.07 1.98%
2020 $1,749.47 3.27%*
* Not final. See inflation summary for latest details.

How to calculate the inflation rate for hospital services, 1996-2020

Start with the inflation rate formula:

CPI in 2020 / CPI in 1996 * 1996 USD value = 2020 USD value

Then plug in historical CPI values from above. The CPI for Hospital services was 100.000 in the year 1996 and 349.894 in 2020:

349.894 / 100.000 * $500 = $1,749.47

Therefore, according to U.S. Bureau of Labor Statistics, $500 in 1996 has the same "purchasing power" as $1,749.47 in 2020 (in the CPI category of Hospital services).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Hospital services in 1996. In addition to hospital services, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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