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