Medical care commodities priced at $1 in 1947 $1.05 in 1948

Medical Care Commodities Inflation Calculator

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Prices for Medical Care Commodities, 1947-1948 ($1)

According to the U.S. Bureau of Labor Statistics, prices for medical care commodities were 4.54% higher in 1948 versus 1947 (a $0.05 difference in value).

Between 1947 and 1948: Medical care commodities experienced an average inflation rate of 4.54% per year. This rate of change indicates significant inflation. In other words, medical care commodities costing $1 in the year 1947 would cost $1.05 in 1948 for an equivalent purchase. Compared to the overall inflation rate of 7.72% during this same period, inflation for medical care commodities was significantly lower.

In the year 1947: Pricing changed by 8.19%, which is significantly above the average yearly change for medical care commodities during the 1947-1948 time period. Compared to inflation for all items in 1947 (14.39%), inflation for medical care commodities was much lower.

Price Inflation for Medical care commodities since 1935

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1981 (10.92%), 1982 (10.29%), and 1980 (9.34%).

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Medical care commodities:

Year 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
CPI 31.700 31.600 31.800 32.000 31.900 31.800 32.000 32.800 33.000 33.300 33.600 34.200 37.000 38.680 39.200 39.760 40.880 41.200 41.600 42.040 42.540 43.460 44.700 46.180 46.840 46.860 46.320 45.540 45.180 45.100 44.975 45.100 44.915 44.977 45.431 46.454 47.277 47.385 47.515 49.169 53.300 56.523 60.169 64.400 68.992 75.438 83.677 92.285 100.177 107.523 115.169 122.746 130.954 139.938 150.800 163.400 176.762 188.054 194.977 200.700 204.469 210.377 215.269 221.823 230.700 238.131 247.585 256.415 262.823 269.269 276.008 285.892 289.999 296.045 305.108 314.717 324.089 333.609 335.109 343.422 354.625 366.781 377.038 381.427 380.721

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Buying power of $1 since 1947

Below are calculations of equivalent buying power for Medical care commodities, over time, for $1 beginning in 1947. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year USD Value Inflation Rate
1947 $1.00 8.19%
1948 $1.05 4.54%
1949 $1.06 1.34%
1950 $1.07 1.43%
1951 $1.10 2.82%
1952 $1.11 0.78%
1953 $1.12 0.97%
1954 $1.14 1.06%
1955 $1.15 1.19%
1956 $1.17 2.16%
1957 $1.21 2.85%
1958 $1.25 3.31%
1959 $1.27 1.43%
1960 $1.27 0.04%
1961 $1.25 -1.15%
1962 $1.23 -1.68%
1963 $1.22 -0.79%
1964 $1.22 -0.18%
1965 $1.22 -0.28%
1966 $1.22 0.28%
1967 $1.21 -0.41%
1968 $1.22 0.14%
1969 $1.23 1.01%
1970 $1.26 2.25%
1971 $1.28 1.77%
1972 $1.28 0.23%
1973 $1.28 0.28%
1974 $1.33 3.48%
1975 $1.44 8.40%
1976 $1.53 6.05%
1977 $1.63 6.45%
1978 $1.74 7.03%
1979 $1.86 7.13%
1980 $2.04 9.34%
1981 $2.26 10.92%
1982 $2.49 10.29%
1983 $2.71 8.55%
1984 $2.91 7.33%
1985 $3.11 7.11%
1986 $3.32 6.58%
1987 $3.54 6.69%
1988 $3.78 6.86%
1989 $4.08 7.76%
1990 $4.42 8.36%
1991 $4.78 8.18%
1992 $5.08 6.39%
1993 $5.27 3.68%
1994 $5.42 2.94%
1995 $5.53 1.88%
1996 $5.69 2.89%
1997 $5.82 2.33%
1998 $6.00 3.04%
1999 $6.24 4.00%
2000 $6.44 3.22%
2001 $6.69 3.97%
2002 $6.93 3.57%
2003 $7.10 2.50%
2004 $7.28 2.45%
2005 $7.46 2.50%
2006 $7.73 3.58%
2007 $7.84 1.44%
2008 $8.00 2.09%
2009 $8.25 3.06%
2010 $8.51 3.15%
2011 $8.76 2.98%
2012 $9.02 2.94%
2013 $9.06 0.45%
2014 $9.28 2.48%
2015 $9.58 3.26%
2016 $9.91 3.43%
2017 $10.19 2.80%
2018 $10.31 1.16%
2019 $10.29 -0.19%*
* Not final. See inflation summary for latest details.

How to calculate the inflation rate for medical care commodities, 1947-1948

Start with the inflation rate formula:

CPI in 1948 / CPI in 1947 * 1947 USD value = 1948 USD value

Then plug in historical CPI values from above. The CPI for Medical care commodities was 37.000 in the year 1947 and 38.680 in 1948:

38.680 / 37.000 * $1 = $1.05

Therefore, according to U.S. Bureau of Labor Statistics, $1 in 1947 has the same "purchasing power" as $1.05 in 1948 (in the CPI category of Medical care commodities).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Medical care commodities in 1935. In addition to medical care commodities, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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