According to the U.S. Bureau of Labor Statistics, prices for medical care are 5,295.75% higher in 2024 versus 1940 (a $37,599,811.29 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 $710,000 in the year 1940 would cost $38,309,811.29 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 $710,000 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 | $710,000.00 | - |
1941 | $714,111.97 | 0.58% |
1942 | $736,042.47 | 3.07% |
1943 | $771,679.54 | 4.84% |
1944 | $793,610.04 | 2.84% |
1945 | $815,540.54 | 2.76% |
1946 | $860,772.20 | 5.55% |
1947 | $927,828.93 | 7.79% |
1948 | $985,291.06 | 6.19% |
1949 | $1,016,921.59 | 3.21% |
1950 | $1,035,899.91 | 1.87% |
1951 | $1,085,454.41 | 4.78% |
1952 | $1,144,498.07 | 5.44% |
1953 | $1,185,090.59 | 3.55% |
1954 | $1,221,465.70 | 3.07% |
1955 | $1,249,933.17 | 2.33% |
1956 | $1,295,797.45 | 3.67% |
1957 | $1,349,042.17 | 4.11% |
1958 | $1,413,357.59 | 4.77% |
1959 | $1,472,928.42 | 4.21% |
1960 | $1,525,118.80 | 3.54% |
1961 | $1,570,983.07 | 3.01% |
1962 | $1,612,629.94 | 2.65% |
1963 | $1,651,113.75 | 2.39% |
1964 | $1,684,852.98 | 2.04% |
1965 | $1,725,972.68 | 2.44% |
1966 | $1,802,413.13 | 4.43% |
1967 | $1,929,462.43 | 7.05% |
1968 | $2,046,495.40 | 6.07% |
1969 | $2,187,778.44 | 6.90% |
1970 | $2,326,952.78 | 6.36% |
1971 | $2,477,197.80 | 6.46% |
1972 | $2,557,328.48 | 3.23% |
1973 | $2,656,437.48 | 3.88% |
1974 | $2,903,682.80 | 9.31% |
1975 | $3,253,727.35 | 12.06% |
1976 | $3,563,179.39 | 9.51% |
1977 | $3,903,734.78 | 9.56% |
1978 | $4,233,219.48 | 8.44% |
1979 | $4,624,910.90 | 9.25% |
1980 | $5,131,526.58 | 10.95% |
1981 | $5,682,952.18 | 10.75% |
1982 | $6,342,448.77 | 11.60% |
1983 | $6,893,874.37 | 8.69% |
1984 | $7,322,995.25 | 6.22% |
1985 | $7,779,529.25 | 6.23% |
1986 | $8,363,639.74 | 7.51% |
1987 | $8,918,755.57 | 6.64% |
1988 | $9,501,284.53 | 6.53% |
1989 | $10,228,786.75 | 7.66% |
1990 | $11,157,142.86 | 9.08% |
1991 | $12,131,363.23 | 8.73% |
1992 | $13,025,980.10 | 7.37% |
1993 | $13,803,036.83 | 5.97% |
1994 | $14,461,479.06 | 4.77% |
1995 | $15,109,377.78 | 4.48% |
1996 | $15,640,770.72 | 3.52% |
1997 | $16,076,744.88 | 2.79% |
1998 | $16,593,904.07 | 3.22% |
1999 | $17,173,269.97 | 3.49% |
2000 | $17,870,196.02 | 4.06% |
2001 | $18,693,117.02 | 4.60% |
2002 | $19,572,972.97 | 4.71% |
2003 | $20,359,518.86 | 4.02% |
2004 | $21,254,135.73 | 4.39% |
2005 | $22,151,388.48 | 4.22% |
2006 | $23,039,679.24 | 4.01% |
2007 | $24,058,693.72 | 4.42% |
2008 | $24,950,390.04 | 3.71% |
2009 | $25,741,833.38 | 3.17% |
2010 | $26,620,592.81 | 3.41% |
2011 | $27,430,777.25 | 3.04% |
2012 | $28,435,905.93 | 3.66% |
2013 | $29,135,662.90 | 2.46% |
2014 | $29,831,803.46 | 2.39% |
2015 | $30,617,179.02 | 2.63% |
2016 | $31,776,933.55 | 3.79% |
2017 | $32,575,145.83 | 2.51% |
2018 | $33,218,336.87 | 1.97% |
2019 | $34,157,668.77 | 2.83% |
2020 | $35,560,003.12 | 4.11% |
2021 | $35,998,671.15 | 1.23% |
2022 | $37,456,854.47 | 4.05% |
2023 | $37,630,295.22 | 0.46% |
2024 | $38,309,811.29 | 1.81%* |
* 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 | 559.000 |