According to the U.S. Bureau of Labor Statistics, prices for medical care are 5,309.96% higher in 2024 versus 1938 (a $53,099,563,106.80 difference in value).
Between 1938 and 2024: Medical care experienced an average inflation rate of 4.75% per year. This rate of change indicates significant inflation. In other words, medical care costing $1,000,000,000 in the year 1938 would cost $54,099,563,106.80 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.66% during this same period, inflation for medical care was higher.
In the year 1938: Pricing changed by 0%, which is significantly below the average yearly change for medical care during the 1938-2024 time period. Compared to inflation for all items in 1938 (-2.03%), inflation for medical care was higher.
Below are calculations of equivalent buying power for Medical care, over time, for $1,000,000,000 beginning in 1938. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1938 | $1,000,000,000.00 | - |
1939 | $1,005,825,242.72 | 0.58% |
1940 | $1,005,825,242.72 | 0.00% ** |
1941 | $1,011,650,485.44 | 0.58% |
1942 | $1,042,718,446.60 | 3.07% |
1943 | $1,093,203,883.50 | 4.84% |
1944 | $1,124,271,844.66 | 2.84% |
1945 | $1,155,339,805.83 | 2.76% |
1946 | $1,219,417,475.73 | 5.55% |
1947 | $1,314,413,741.60 | 7.79% |
1948 | $1,395,817,774.46 | 6.19% |
1949 | $1,440,627,333.83 | 3.21% |
1950 | $1,467,513,069.45 | 1.87% |
1951 | $1,537,714,712.47 | 4.78% |
1952 | $1,621,359,223.30 | 5.44% |
1953 | $1,678,864,824.50 | 3.55% |
1954 | $1,730,395,817.77 | 3.07% |
1955 | $1,770,724,421.21 | 2.33% |
1956 | $1,835,698,282.30 | 3.67% |
1957 | $1,911,127,707.24 | 4.11% |
1958 | $2,002,240,477.97 | 4.77% |
1959 | $2,086,631,814.79 | 4.21% |
1960 | $2,160,567,587.75 | 3.54% |
1961 | $2,225,541,448.84 | 3.01% |
1962 | $2,284,540,702.02 | 2.65% |
1963 | $2,339,058,999.25 | 2.39% |
1964 | $2,386,855,862.58 | 2.04% |
1965 | $2,445,108,289.77 | 2.44% |
1966 | $2,553,398,058.25 | 4.43% |
1967 | $2,733,383,121.73 | 7.05% |
1968 | $2,899,178,491.41 | 6.07% |
1969 | $3,099,327,856.61 | 6.90% |
1970 | $3,296,489,917.85 | 6.36% |
1971 | $3,509,335,324.87 | 6.46% |
1972 | $3,622,852,875.28 | 3.23% |
1973 | $3,763,256,161.31 | 3.88% |
1974 | $4,113,517,550.41 | 9.31% |
1975 | $4,609,410,007.47 | 12.06% |
1976 | $5,047,796,863.33 | 9.51% |
1977 | $5,530,246,452.58 | 9.56% |
1978 | $5,997,012,696.04 | 8.44% |
1979 | $6,551,904,406.27 | 9.25% |
1980 | $7,269,604,182.23 | 10.95% |
1981 | $8,050,784,167.29 | 10.75% |
1982 | $8,985,063,480.21 | 11.60% |
1983 | $9,766,243,465.27 | 8.69% |
1984 | $10,374,159,820.76 | 6.22% |
1985 | $11,020,911,127.71 | 6.23% |
1986 | $11,848,394,324.12 | 7.51% |
1987 | $12,634,802,091.11 | 6.64% |
1988 | $13,460,044,809.56 | 6.53% |
1989 | $14,490,664,675.13 | 7.66% |
1990 | $15,805,825,242.72 | 9.08% |
1991 | $17,185,959,671.40 | 8.73% |
1992 | $18,453,323,375.65 | 7.37% |
1993 | $19,554,144,884.24 | 5.97% |
1994 | $20,486,930,545.18 | 4.77% |
1995 | $21,404,779,686.33 | 4.48% |
1996 | $22,157,580,283.79 | 3.52% |
1997 | $22,775,205,377.15 | 2.79% |
1998 | $23,507,841,672.89 | 3.22% |
1999 | $24,328,603,435.40 | 3.49% |
2000 | $25,315,907,393.58 | 4.06% |
2001 | $26,481,702,763.26 | 4.60% |
2002 | $27,728,155,339.81 | 4.71% |
2003 | $28,842,419,716.21 | 4.02% |
2004 | $30,109,783,420.46 | 4.39% |
2005 | $31,380,881,254.67 | 4.22% |
2006 | $32,639,283,047.05 | 4.01% |
2007 | $34,082,875,280.06 | 4.42% |
2008 | $35,346,101,568.33 | 3.71% |
2009 | $36,467,303,958.18 | 3.17% |
2010 | $37,712,203,136.67 | 3.41% |
2011 | $38,859,955,190.44 | 3.04% |
2012 | $40,283,876,026.89 | 3.66% |
2013 | $41,275,190,440.63 | 2.46% |
2014 | $42,261,381,628.08 | 2.39% |
2015 | $43,373,988,050.78 | 2.63% |
2016 | $45,016,960,418.22 | 3.79% |
2017 | $46,147,752,053.77 | 2.51% |
2018 | $47,058,932,038.83 | 1.97% |
2019 | $48,389,641,523.53 | 2.83% |
2020 | $50,376,265,870.05 | 4.11% |
2021 | $50,997,707,244.21 | 1.23% |
2022 | $53,063,450,336.07 | 4.05% |
2023 | $53,309,156,086.63 | 0.46% |
2024 | $54,099,563,106.80 | 1.48%* |
* 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:
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 | 10.200 | 10.200 | 10.300 | 10.300 | 10.360 | 10.360 | 10.420 | 10.740 | 11.260 | 11.580 | 11.900 | 12.560 | 13.538 | 14.377 | 14.838 | 15.115 | 15.838 | 16.700 | 17.292 | 17.823 | 18.238 | 18.908 | 19.685 | 20.623 | 21.492 | 22.254 | 22.923 | 23.531 | 24.092 | 24.585 | 25.185 | 26.300 | 28.154 | 29.862 | 31.923 | 33.954 | 36.146 | 37.315 | 38.762 | 42.369 | 47.477 | 51.992 | 56.962 | 61.769 | 67.485 | 74.877 | 82.923 | 92.546 | 100.592 | 106.854 | 113.515 | 122.038 | 130.138 | 138.638 | 149.254 | 162.800 | 177.015 | 190.069 | 201.408 | 211.015 | 220.469 | 228.223 | 234.585 | 242.131 | 250.585 | 260.754 | 272.762 | 285.600 | 297.077 | 310.131 | 323.223 | 336.185 | 351.054 | 364.065 | 375.613 | 388.436 | 400.258 | 414.924 | 425.134 | 435.292 | 446.752 | 463.675 | 475.322 | 484.707 | 498.413 | 518.876 | 525.276 | 546.554 | 549.084 | 557.226 |