Medical care priced at $2,500 in 1947 $95,010.83 in 2020

Medical Care Inflation Calculator

$

Prices for Medical Care, 1947-2020 ($2,500)

According to the U.S. Bureau of Labor Statistics, prices for medical care were 3,700.43% higher in 2020 versus 1947 (a $92,510.83 difference in value).

Between 1947 and 2020: Medical care experienced an average inflation rate of 5.11% per year. This rate of change indicates significant inflation. In other words, medical care costing $2,500 in the year 1947 would cost $95,010.83 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 3.41% during this same period, inflation for medical care was higher.

Price Inflation for Medical care since 1947

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1975 (12.10%), 1982 (11.69%), and 1980 (10.94%).

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

Year 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
CPI 13.542 14.392 14.833 15.100 15.825 16.708 17.292 17.825 18.250 18.900 19.675 20.633 21.492 22.258 22.908 23.525 24.083 24.592 25.183 26.300 28.150 29.867 31.917 33.958 36.133 37.325 38.758 42.367 47.492 52.000 56.975 61.750 67.475 74.858 82.925 92.617 100.658 106.975 113.617 122.167 130.175 138.625 149.250 162.808 177.017 190.058 201.400 211.025 220.450 228.267 234.592 242.125 250.558 260.750 272.767 285.633 297.058 310.142 323.225 336.192 351.065 364.072 375.608 388.423 400.241 414.923 425.132 435.306 446.762 463.685 475.324 484.707 498.420 514.642

View price changes for other categories
Wireless telephone services · Fresh fruits · Bananas · Tampa, Florida · More

Buying power of $2500 since 1947

Below are calculations of equivalent buying power for Medical care, over time, for $2500 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 $2,500.00 -
1948 $2,656.92 6.28%
1949 $2,738.46 3.07%
1950 $2,787.69 1.80%
1951 $2,921.54 4.80%
1952 $3,084.62 5.58%
1953 $3,192.31 3.49%
1954 $3,290.77 3.08%
1955 $3,369.23 2.38%
1956 $3,489.23 3.56%
1957 $3,632.31 4.10%
1958 $3,809.23 4.87%
1959 $3,967.69 4.16%
1960 $4,109.23 3.57%
1961 $4,229.23 2.92%
1962 $4,343.08 2.69%
1963 $4,446.15 2.37%
1964 $4,540.00 2.11%
1965 $4,649.23 2.41%
1966 $4,855.38 4.43%
1967 $5,196.92 7.03%
1968 $5,513.85 6.10%
1969 $5,892.31 6.86%
1970 $6,269.23 6.40%
1971 $6,670.77 6.40%
1972 $6,890.77 3.30%
1973 $7,155.38 3.84%
1974 $7,821.54 9.31%
1975 $8,767.69 12.10%
1976 $9,600.00 9.49%
1977 $10,518.46 9.57%
1978 $11,400.00 8.38%
1979 $12,456.92 9.27%
1980 $13,820.00 10.94%
1981 $15,309.23 10.78%
1982 $17,098.46 11.69%
1983 $18,583.08 8.68%
1984 $19,749.23 6.28%
1985 $20,975.38 6.21%
1986 $22,553.85 7.53%
1987 $24,032.31 6.56%
1988 $25,592.31 6.49%
1989 $27,553.85 7.66%
1990 $30,056.92 9.08%
1991 $32,680.00 8.73%
1992 $35,087.69 7.37%
1993 $37,181.54 5.97%
1994 $38,958.46 4.78%
1995 $40,698.46 4.47%
1996 $42,141.54 3.55%
1997 $43,309.23 2.77%
1998 $44,700.00 3.21%
1999 $46,256.92 3.48%
2000 $48,138.46 4.07%
2001 $50,356.92 4.61%
2002 $52,732.31 4.72%
2003 $54,841.54 4.00%
2004 $57,256.92 4.40%
2005 $59,672.31 4.22%
2006 $62,066.15 4.01%
2007 $64,811.98 4.42%
2008 $67,213.20 3.70%
2009 $69,343.05 3.17%
2010 $71,708.89 3.41%
2011 $73,890.69 3.04%
2012 $76,601.25 3.67%
2013 $78,486.00 2.46%
2014 $80,364.18 2.39%
2015 $82,479.09 2.63%
2016 $85,603.40 3.79%
2017 $87,752.03 2.51%
2018 $89,484.40 1.97%
2019 $92,015.98 2.83%
2020 $95,010.83 3.25%*
* Not final. See inflation summary for latest details.

How to calculate the inflation rate for medical care, 1947-2020

Start with the inflation rate formula:

CPI in 2020 / CPI in 1947 * 1947 USD value = 2020 USD value

Then plug in historical CPI values from above. The CPI for Medical care was 13.542 in the year 1947 and 514.642 in 2020:

514.642 / 13.542 * $2,500 = $95,010.83

Therefore, according to U.S. Bureau of Labor Statistics, $2,500 in 1947 has the same "purchasing power" as $95,010.83 in 2020 (in the CPI category of Medical care).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Medical care in 1947. In addition to medical care, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

» Read more about inflation and investment.