According to the U.S. Bureau of Labor Statistics, prices for hospital services are 314.11% higher in 2024 versus 1996 (a $1,570.53 difference in value).
Between 1996 and 2024: Hospital services experienced an average inflation rate of 5.21% per year. This rate of change indicates significant inflation. In other words, hospital services costing $500 in the year 1996 would cost $2,070.53 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.50% during this same period, inflation for hospital services was higher.
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 | $1,764.76 | 4.17% |
| 2021 | $1,817.66 | 3.00% |
| 2022 | $1,882.58 | 3.57% |
| 2023 | $1,960.60 | 4.14% |
| 2024 | $2,070.53 | 5.61%* |
* 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 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 | 2021 | 2022 | 2023 | 2024 |
| 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 | 352.952 | 363.533 | 376.516 | 392.120 | 414.107 |