According to the U.S. Bureau of Labor Statistics, prices for medical care are 5,327.13% higher in 2024 versus 1940 (a $442,152.15 difference in value).
Between 1940 and 2024: Medical care experienced an average inflation rate of 4.87% per year. This rate of change indicates significant inflation. In other words, medical care costing $8,300 in the year 1940 would cost $450,452.15 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.77% 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 $8,300 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 | $8,300.00 | - |
| 1941 | $8,348.07 | 0.58% |
| 1942 | $8,604.44 | 3.07% |
| 1943 | $9,021.04 | 4.84% |
| 1944 | $9,277.41 | 2.84% |
| 1945 | $9,533.78 | 2.76% |
| 1946 | $10,062.55 | 5.55% |
| 1947 | $10,846.45 | 7.79% |
| 1948 | $11,518.19 | 6.19% |
| 1949 | $11,887.96 | 3.21% |
| 1950 | $12,109.82 | 1.87% |
| 1951 | $12,689.11 | 4.78% |
| 1952 | $13,379.34 | 5.44% |
| 1953 | $13,853.88 | 3.55% |
| 1954 | $14,279.11 | 3.07% |
| 1955 | $14,611.89 | 2.33% |
| 1956 | $15,148.05 | 3.67% |
| 1957 | $15,770.49 | 4.11% |
| 1958 | $16,522.35 | 4.77% |
| 1959 | $17,218.74 | 4.21% |
| 1960 | $17,828.85 | 3.54% |
| 1961 | $18,365.01 | 3.01% |
| 1962 | $18,851.87 | 2.65% |
| 1963 | $19,301.75 | 2.39% |
| 1964 | $19,696.17 | 2.04% |
| 1965 | $20,176.86 | 2.44% |
| 1966 | $21,070.46 | 4.43% |
| 1967 | $22,555.69 | 7.05% |
| 1968 | $23,923.82 | 6.07% |
| 1969 | $25,575.44 | 6.90% |
| 1970 | $27,202.41 | 6.36% |
| 1971 | $28,958.79 | 6.46% |
| 1972 | $29,895.53 | 3.23% |
| 1973 | $31,054.13 | 3.88% |
| 1974 | $33,944.46 | 9.31% |
| 1975 | $38,036.53 | 12.06% |
| 1976 | $41,654.07 | 9.51% |
| 1977 | $45,635.21 | 9.56% |
| 1978 | $49,486.93 | 8.44% |
| 1979 | $54,065.86 | 9.25% |
| 1980 | $59,988.27 | 10.95% |
| 1981 | $66,434.51 | 10.75% |
| 1982 | $74,144.12 | 11.60% |
| 1983 | $80,590.36 | 8.69% |
| 1984 | $85,606.85 | 6.22% |
| 1985 | $90,943.79 | 6.23% |
| 1986 | $97,772.13 | 7.51% |
| 1987 | $104,261.51 | 6.64% |
| 1988 | $111,071.35 | 6.53% |
| 1989 | $119,575.96 | 7.66% |
| 1990 | $130,428.57 | 9.08% |
| 1991 | $141,817.34 | 8.73% |
| 1992 | $152,275.54 | 7.37% |
| 1993 | $161,359.44 | 5.97% |
| 1994 | $169,056.73 | 4.77% |
| 1995 | $176,630.75 | 4.48% |
| 1996 | $182,842.81 | 3.52% |
| 1997 | $187,939.41 | 2.79% |
| 1998 | $193,985.08 | 3.22% |
| 1999 | $200,757.94 | 3.49% |
| 2000 | $208,905.11 | 4.06% |
| 2001 | $218,525.17 | 4.60% |
| 2002 | $228,810.81 | 4.71% |
| 2003 | $238,005.64 | 4.02% |
| 2004 | $248,463.84 | 4.39% |
| 2005 | $258,952.85 | 4.22% |
| 2006 | $269,337.10 | 4.01% |
| 2007 | $281,249.52 | 4.42% |
| 2008 | $291,673.57 | 3.71% |
| 2009 | $300,925.66 | 3.17% |
| 2010 | $311,198.48 | 3.41% |
| 2011 | $320,669.65 | 3.04% |
| 2012 | $332,419.75 | 3.66% |
| 2013 | $340,600.00 | 2.46% |
| 2014 | $348,737.98 | 2.39% |
| 2015 | $357,919.13 | 2.63% |
| 2016 | $371,476.83 | 3.79% |
| 2017 | $380,808.04 | 2.51% |
| 2018 | $388,327.04 | 1.97% |
| 2019 | $399,307.96 | 2.83% |
| 2020 | $415,701.44 | 4.11% |
| 2021 | $420,829.54 | 1.23% |
| 2022 | $437,875.90 | 4.05% |
| 2023 | $439,903.45 | 0.46% |
| 2024 | $450,452.15 | 2.40%* |
* 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 | 562.251 |