Medical care services priced at $20 in 1960 $626.94 in 2024

Medical Care Services Inflation Calculator

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Prices for Medical Care Services, 1960-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for medical care services are 3,034.68% higher in 2024 versus 1960 (a $606.94 difference in value).

Between 1960 and 2024: Medical care services experienced an average inflation rate of 5.53% per year. This rate of change indicates significant inflation. In other words, medical care services costing $20 in the year 1960 would cost $626.94 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.76% during this same period, inflation for medical care services was higher.

In the year 1960: Pricing changed by 4.11%, which is below the average yearly change for medical care services during the 1960-2024 time period. Compared to inflation for all items in 1960 (1.48%), inflation for medical care services was higher.

Price Inflation for Medical care services since 1935

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1975 (12.60%), 1982 (11.86%), and 1980 (11.28%).

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Buying power of $20.00 since 1960

Below are calculations of equivalent buying power for Medical care services, over time, for $20 beginning in 1960. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1960$20.004.11%
1961$20.733.67%
1962$21.423.31%
1963$22.052.95%
1964$22.592.43%
1965$23.293.11%
1966$24.555.39%
1967$26.698.71%
1968$28.657.36%
1969$30.968.07%
1970$33.167.11%
1971$35.587.28%
1972$36.873.64%
1973$38.524.45%
1974$42.4510.23%
1975$47.8112.60%
1976$52.6010.02%
1977$57.829.93%
1978$62.838.65%
1979$68.939.72%
1980$76.7111.28%
1981$84.9310.72%
1982$95.0011.86%
1983$103.308.73%
1984$109.516.01%
1985$116.126.04%
1986$125.087.71%
1987$133.346.60%
1988$141.946.45%
1989$152.777.63%
1990$166.919.26%
1991$181.708.86%
1992$195.497.59%
1993$208.206.50%
1994$218.975.17%
1995$230.025.05%
1996$238.463.67%
1997$245.302.87%
1998$253.233.23%
1999$261.703.35%
2000$272.944.29%
2001$286.024.79%
2002$300.515.07%
2003$313.944.47%
2004$329.705.02%
2005$345.454.78%
2006$359.754.14%
2007$378.925.33%
2008$394.974.24%
2009$407.653.21%
2010$421.923.50%
2011$434.853.06%
2012$451.813.90%
2013$465.833.10%
2014$476.902.38%
2015$488.572.45%
2016$507.653.91%
2017$520.002.43%
2018$531.292.17%
2019$550.113.54%
2020$577.304.94%
2021$588.021.86%
2022$613.284.29%
2023$611.15-0.35%
2024$626.942.58%*

* 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 services:

Year193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI8.2758.3178.4008.4008.4808.5008.5208.7609.2409.6209.88010.48011.38012.14012.54012.84013.48014.36014.84015.28015.76016.31517.01517.86218.72319.49220.20820.87721.49222.01522.70023.92326.00827.92330.17732.32334.67735.93837.53841.37746.59251.26256.35461.23167.18574.76282.77792.592100.677106.731113.177121.908129.954138.338148.892162.677177.085190.523202.915213.415224.185232.408239.077246.800255.062266.015278.762292.885305.969321.331336.677350.615369.302384.943397.299411.208423.810440.341454.007464.798476.171494.766506.804517.805536.142562.650573.096597.710595.636611.021

Adjust medical care services prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1960 * 1960 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Medical care services was 19.492 in the year 1960 and 611.021 in 2024:

611.021 / 19.492 * $20 = $626.94

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1960 has the same "purchasing power" as $626.94 in 2024 (in the CPI category of Medical care services).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Medical care services in 1935. In addition to medical care 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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