According to the U.S. Bureau of Labor Statistics, prices for medical care commodities are 773.41% higher in 2024 versus 1971 (a $154.68 difference in value).
Between 1971 and 2024: Medical care commodities experienced an average inflation rate of 4.17% per year. This rate of change indicates significant inflation. In other words, medical care commodities costing $20 in the year 1971 would cost $174.68 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.94% during this same period, inflation for medical care commodities was higher.
In the year 1971: Pricing changed by 1.77%, which is below the average yearly change for medical care commodities during the 1971-2024 time period. Compared to inflation for all items in 1971 (4.30%), inflation for medical care commodities was lower.
Below are calculations of equivalent buying power for Medical care commodities, over time, for $20 beginning in 1971. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1971 | $20.00 | 1.77% |
| 1972 | $20.05 | 0.23% |
| 1973 | $20.10 | 0.28% |
| 1974 | $20.80 | 3.48% |
| 1975 | $22.55 | 8.40% |
| 1976 | $23.91 | 6.05% |
| 1977 | $25.45 | 6.45% |
| 1978 | $27.24 | 7.03% |
| 1979 | $29.19 | 7.13% |
| 1980 | $31.91 | 9.34% |
| 1981 | $35.40 | 10.92% |
| 1982 | $39.04 | 10.29% |
| 1983 | $42.38 | 8.55% |
| 1984 | $45.49 | 7.33% |
| 1985 | $48.72 | 7.11% |
| 1986 | $51.93 | 6.58% |
| 1987 | $55.40 | 6.69% |
| 1988 | $59.20 | 6.86% |
| 1989 | $63.79 | 7.76% |
| 1990 | $69.12 | 8.36% |
| 1991 | $74.78 | 8.18% |
| 1992 | $79.55 | 6.39% |
| 1993 | $82.48 | 3.68% |
| 1994 | $84.90 | 2.94% |
| 1995 | $86.50 | 1.88% |
| 1996 | $89.00 | 2.89% |
| 1997 | $91.07 | 2.33% |
| 1998 | $93.84 | 3.04% |
| 1999 | $97.60 | 4.00% |
| 2000 | $100.74 | 3.22% |
| 2001 | $104.74 | 3.97% |
| 2002 | $108.47 | 3.57% |
| 2003 | $111.18 | 2.50% |
| 2004 | $113.91 | 2.45% |
| 2005 | $116.76 | 2.50% |
| 2006 | $120.94 | 3.58% |
| 2007 | $122.68 | 1.44% |
| 2008 | $125.24 | 2.09% |
| 2009 | $129.07 | 3.06% |
| 2010 | $133.14 | 3.15% |
| 2011 | $137.10 | 2.98% |
| 2012 | $141.13 | 2.94% |
| 2013 | $141.76 | 0.45% |
| 2014 | $145.28 | 2.48% |
| 2015 | $150.02 | 3.26% |
| 2016 | $155.16 | 3.43% |
| 2017 | $159.50 | 2.80% |
| 2018 | $161.36 | 1.16% |
| 2019 | $161.30 | -0.04% |
| 2020 | $162.09 | 0.49% |
| 2021 | $159.51 | -1.59% |
| 2022 | $164.19 | 2.93% |
| 2023 | $171.04 | 4.17% |
| 2024 | $174.68 | 2.13%* |
* 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 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 | 2020 | 2021 | 2022 | 2023 | 2024 |
| 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 | 381.288 | 383.160 | 377.057 | 388.109 | 404.309 | 412.923 |