According to the U.S. Bureau of Labor Statistics, prices for hospital services are 307.22% higher in 2024 versus 1997 (a $1,536.08 difference in value).
Between 1997 and 2024: Hospital services experienced an average inflation rate of 5.34% per year. This rate of change indicates significant inflation. In other words, hospital services costing $500 in the year 1997 would cost $2,036.08 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.51% during this same period, inflation for hospital services was higher.
In the year 1997: Pricing changed by 1.69%, which is significantly below the average yearly change for hospital services during the 1997-2024 time period. Compared to inflation for all items in 1997 (2.33%), inflation for hospital services was lower.
Below are calculations of equivalent buying power for Hospital services, over time, for $500 beginning in 1997. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1997 | $500.00 | 1.69% |
| 1998 | $516.04 | 3.21% |
| 1999 | $537.52 | 4.16% |
| 2000 | $569.78 | 6.00% |
| 2001 | $607.87 | 6.68% |
| 2002 | $662.25 | 8.95% |
| 2003 | $711.57 | 7.45% |
| 2004 | $754.08 | 5.97% |
| 2005 | $794.40 | 5.35% |
| 2006 | $846.33 | 6.54% |
| 2007 | $902.48 | 6.63% |
| 2008 | $969.52 | 7.43% |
| 2009 | $1,036.12 | 6.87% |
| 2010 | $1,117.23 | 7.83% |
| 2011 | $1,185.99 | 6.16% |
| 2012 | $1,246.71 | 5.12% |
| 2013 | $1,305.15 | 4.69% |
| 2014 | $1,370.57 | 5.01% |
| 2015 | $1,426.52 | 4.08% |
| 2016 | $1,491.07 | 4.53% |
| 2017 | $1,564.37 | 4.92% |
| 2018 | $1,633.54 | 4.42% |
| 2019 | $1,665.88 | 1.98% |
| 2020 | $1,735.39 | 4.17% |
| 2021 | $1,787.42 | 3.00% |
| 2022 | $1,851.25 | 3.57% |
| 2023 | $1,927.97 | 4.14% |
| 2024 | $2,036.08 | 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 |