Inpatient hospital services priced at $20 in 2018 $21.05 in 2020

Inpatient Hospital Services Inflation Calculator


Prices for Inpatient Hospital Services, 2018-2020 ($20)

According to the U.S. Bureau of Labor Statistics, prices for inpatient hospital services were 5.23% higher in 2020 versus 2018 (a $1.05 difference in value).

Between 2018 and 2020: Inpatient hospital services experienced an average inflation rate of 2.58% per year. This rate of change indicates significant inflation. In other words, inpatient hospital services costing $20 in the year 2018 would cost $21.05 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.46% during this same period, inflation for inpatient hospital services was higher.

Price Inflation for Inpatient hospital services since 2018

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2020 (3.42%), and 2019 (1.76%).

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

Year 2018 2019 2020
CPI 324.533 330.236 341.518

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Buying power of $20 since 2018

Below are calculations of equivalent buying power for Inpatient hospital services, over time, for $20 beginning in 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year USD Value Inflation Rate
2018 $20.00 -
2019 $20.35 1.76%
2020 $21.05 3.42%*
* Not final. See inflation summary for latest details.

How to calculate the inflation rate for inpatient hospital services, 2018-2020

Start with the inflation rate formula:

CPI in 2020 / CPI in 2018 * 2018 USD value = 2020 USD value

Then plug in historical CPI values from above. The CPI for Inpatient hospital services was 324.533 in the year 2018 and 341.518 in 2020:

341.518 / 324.533 * $20 = $21.05

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2018 has the same "purchasing power" as $21.05 in 2020 (in the CPI category of Inpatient hospital services).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Inpatient hospital services in 2018. In addition to inpatient 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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