According to the U.S. Bureau of Labor Statistics, prices for inpatient hospital services are 15.98% higher in 2024 versus 2020 (a $3.20 difference in value).
Between 2020 and 2024: Inpatient hospital services experienced an average inflation rate of 3.78% per year. This rate of change indicates significant inflation. In other words, inpatient hospital services costing $20 in the year 2020 would cost $23.20 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 4.89% during this same period, inflation for inpatient hospital services was lower.
In the year 2020: Pricing changed by 3.73%, which is below the average yearly change for inpatient hospital services during the 2020-2024 time period. Compared to inflation for all items in 2020 (1.23%), inflation for inpatient hospital services was higher.
Below are calculations of equivalent buying power for Inpatient hospital services, over time, for $20 beginning in 2020. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2020 | $20.00 | 3.73% |
| 2021 | $20.54 | 2.71% |
| 2022 | $21.26 | 3.51% |
| 2023 | $22.06 | 3.76% |
| 2024 | $23.20 | 5.15%* |
* 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 Inpatient 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 | 101.331 | 103.954 | 107.854 | 113.769 | 120.977 | 131.200 | 140.077 | 148.123 | 156.623 | 167.454 | 178.060 | 190.789 | 203.564 | 221.525 | 236.566 | 248.793 | 259.724 | 274.609 | 285.067 | 299.701 | 312.493 | 324.533 | 330.236 | 342.548 | 351.815 | 364.167 | 377.843 | 397.288 |