According to the U.S. Bureau of Labor Statistics, prices for medical care are 5,287.34% higher in 2024 versus 1940 (a $1,871,719,189,189.19 difference in value).
Between 1940 and 2024: Medical care experienced an average inflation rate of 4.86% per year. This rate of change indicates significant inflation. In other words, medical care costing $35,400,000,000 in the year 1940 would cost $1,907,119,189,189.19 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.76% during this same period, inflation for medical care was higher.
In the year 1940: Pricing changed by 0%, which is significantly below the average yearly change for medical care during the 1940-2024 time period. Compared to inflation for all items in 1940 (0.72%), inflation for medical care was lower.
Below are calculations of equivalent buying power for Medical care, over time, for $35,400,000,000 beginning in 1940. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1940 | $35,400,000,000.00 | - |
1941 | $35,605,019,305.02 | 0.58% |
1942 | $36,698,455,598.46 | 3.07% |
1943 | $38,475,289,575.29 | 4.84% |
1944 | $39,568,725,868.73 | 2.84% |
1945 | $40,662,162,162.16 | 2.76% |
1946 | $42,917,374,517.37 | 5.55% |
1947 | $46,260,766,260.77 | 7.79% |
1948 | $49,125,779,625.78 | 6.19% |
1949 | $50,702,851,202.85 | 3.21% |
1950 | $51,649,094,149.09 | 1.87% |
1951 | $54,119,839,619.84 | 4.78% |
1952 | $57,063,706,563.71 | 5.44% |
1953 | $59,087,615,087.62 | 3.55% |
1954 | $60,901,247,401.25 | 3.07% |
1955 | $62,320,611,820.61 | 2.33% |
1956 | $64,607,365,607.37 | 3.67% |
1957 | $67,262,102,762.10 | 4.11% |
1958 | $70,468,814,968.81 | 4.77% |
1959 | $73,438,966,438.97 | 4.21% |
1960 | $76,041,134,541.13 | 3.54% |
1961 | $78,327,888,327.89 | 3.01% |
1962 | $80,404,365,904.37 | 2.65% |
1963 | $82,323,136,323.14 | 2.39% |
1964 | $84,005,346,005.35 | 2.04% |
1965 | $86,055,539,055.54 | 2.44% |
1966 | $89,866,795,366.80 | 4.43% |
1967 | $96,201,366,201.37 | 7.05% |
1968 | $102,036,531,036.53 | 6.07% |
1969 | $109,080,784,080.78 | 6.90% |
1970 | $116,019,899,019.90 | 6.36% |
1971 | $123,510,989,010.99 | 6.46% |
1972 | $127,506,237,006.24 | 3.23% |
1973 | $132,447,727,947.73 | 3.88% |
1974 | $144,775,170,775.17 | 9.31% |
1975 | $162,228,096,228.10 | 12.06% |
1976 | $177,657,113,157.11 | 9.51% |
1977 | $194,636,917,136.92 | 9.56% |
1978 | $211,064,746,064.75 | 8.44% |
1979 | $230,594,149,094.15 | 9.25% |
1980 | $255,853,578,853.58 | 10.95% |
1981 | $283,347,193,347.19 | 10.75% |
1982 | $316,229,135,729.14 | 11.60% |
1983 | $343,722,750,222.75 | 8.69% |
1984 | $365,118,354,618.35 | 6.22% |
1985 | $387,880,754,380.75 | 6.23% |
1986 | $417,004,009,504.01 | 7.51% |
1987 | $444,681,615,681.62 | 6.64% |
1988 | $473,726,017,226.02 | 6.53% |
1989 | $509,998,663,498.66 | 7.66% |
1990 | $556,285,714,285.71 | 9.08% |
1991 | $604,859,518,859.52 | 8.73% |
1992 | $649,464,359,964.36 | 7.37% |
1993 | $688,207,751,707.75 | 5.97% |
1994 | $721,037,125,037.12 | 4.77% |
1995 | $753,340,807,840.81 | 4.48% |
1996 | $779,835,610,335.61 | 3.52% |
1997 | $801,572,913,572.91 | 2.79% |
1998 | $827,358,033,858.03 | 3.22% |
1999 | $856,244,728,244.73 | 3.49% |
2000 | $890,992,871,992.87 | 4.06% |
2001 | $932,023,017,523.02 | 4.60% |
2002 | $975,891,891,891.89 | 4.71% |
2003 | $1,015,108,405,108.41 | 4.02% |
2004 | $1,059,713,246,213.25 | 4.39% |
2005 | $1,104,449,509,949.51 | 4.22% |
2006 | $1,148,738,936,738.94 | 4.01% |
2007 | $1,199,546,137,511.14 | 4.42% |
2008 | $1,244,005,362,340.36 | 3.71% |
2009 | $1,283,466,058,806.06 | 3.17% |
2010 | $1,327,280,261,360.26 | 3.41% |
2011 | $1,367,675,372,735.37 | 3.04% |
2012 | $1,417,790,239,085.24 | 3.66% |
2013 | $1,452,679,530,739.53 | 2.46% |
2014 | $1,487,388,510,543.51 | 2.39% |
2015 | $1,526,546,672,111.67 | 2.63% |
2016 | $1,584,371,052,866.05 | 3.79% |
2017 | $1,624,169,242,649.24 | 2.51% |
2018 | $1,656,238,204,633.20 | 1.97% |
2019 | $1,703,072,499,257.50 | 2.83% |
2020 | $1,772,991,704,781.70 | 4.11% |
2021 | $1,794,863,321,948.32 | 1.23% |
2022 | $1,867,567,110,187.11 | 4.05% |
2023 | $1,876,214,719,334.72 | 0.46% |
2024 | $1,907,119,189,189.19 | 1.65%* |
* 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 | 558.129 |