Hospital services priced at $500 in 1998 $1,614.11 in 2019

Hospital Services Inflation Calculator

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Prices for Hospital Services, 1998-2019 ($500)

According to the U.S. Bureau of Labor Statistics, prices for hospital services were 222.82% higher in 2019 versus 1998 (a $1,114.11 difference in value).

Between 1998 and 2019: Hospital services experienced an average inflation rate of 5.74% per year. This rate of change indicates significant inflation. In other words, hospital services costing $500 in the year 1998 would cost $1,614.11 in 2019 for an equivalent purchase. Compared to the overall inflation rate of 2.17% during this same period, inflation for hospital services was significantly higher.

In the year 1998: Pricing changed by 3.21%, which is below the average yearly change for hospital services during the 1998-2019 time period. Compared to inflation for all items in 1998 (1.55%), inflation for hospital services was 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%).

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Buying power of $500.00 since 1998

Below are calculations of equivalent buying power for Hospital services, over time, for $500 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1998$500.003.21%
1999$520.824.16%
2000$552.076.00%
2001$588.986.68%
2002$641.678.95%
2003$689.467.45%
2004$730.655.97%
2005$769.725.35%
2006$820.036.54%
2007$874.446.63%
2008$939.397.43%
2009$1,003.926.87%
2010$1,082.517.83%
2011$1,149.146.16%
2012$1,207.975.12%
2013$1,264.594.69%
2014$1,327.985.01%
2015$1,382.194.08%
2016$1,444.734.53%
2017$1,515.764.92%
2018$1,582.774.42%
2019$1,614.111.98%
2020$1,681.464.17%
2021$1,731.873.00%
2022$1,793.723.57%
2023$1,868.064.14%
2024$1,960.904.97%*

* 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:

Year19961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI100.000101.692104.954109.323115.885123.631134.692144.723153.369161.569172.131183.551197.186210.731227.227241.213253.563265.448278.754290.132303.260318.170332.237338.814352.952363.533376.516392.120411.608

Adjust hospital services prices for inflation

Start with the inflation rate formula:

CPI in 2019 / CPI in 1998 * 1998 USD value = 2019 USD value

Then plug in historical CPI values from above. The CPI for Hospital services was 104.954 in the year 1998 and 338.814 in 2019:

338.814 / 104.954 * $500 = $1,614.11

Therefore, according to U.S. Bureau of Labor Statistics, $500 in 1998 has the same "purchasing power" as $1,614.11 in 2019 (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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