According to the U.S. Bureau of Labor Statistics, prices for medical care are 5,327.13% higher in 2024 versus 1940 (a $50,607,775.63 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 $950,000 in the year 1940 would cost $51,557,775.63 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 $950,000 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 | $950,000.00 | - |
| 1941 | $955,501.93 | 0.58% |
| 1942 | $984,845.56 | 3.07% |
| 1943 | $1,032,528.96 | 4.84% |
| 1944 | $1,061,872.59 | 2.84% |
| 1945 | $1,091,216.22 | 2.76% |
| 1946 | $1,151,737.45 | 5.55% |
| 1947 | $1,241,461.24 | 7.79% |
| 1948 | $1,318,347.19 | 6.19% |
| 1949 | $1,360,669.74 | 3.21% |
| 1950 | $1,386,063.26 | 1.87% |
| 1951 | $1,452,368.58 | 4.78% |
| 1952 | $1,531,370.66 | 5.44% |
| 1953 | $1,585,684.59 | 3.55% |
| 1954 | $1,634,355.51 | 3.07% |
| 1955 | $1,672,445.80 | 2.33% |
| 1956 | $1,733,813.48 | 3.67% |
| 1957 | $1,805,056.43 | 4.11% |
| 1958 | $1,891,112.27 | 4.77% |
| 1959 | $1,970,819.72 | 4.21% |
| 1960 | $2,040,651.92 | 3.54% |
| 1961 | $2,102,019.60 | 3.01% |
| 1962 | $2,157,744.28 | 2.65% |
| 1963 | $2,209,236.71 | 2.39% |
| 1964 | $2,254,380.75 | 2.04% |
| 1965 | $2,309,400.06 | 2.44% |
| 1966 | $2,411,679.54 | 4.43% |
| 1967 | $2,581,675.08 | 7.05% |
| 1968 | $2,738,268.49 | 6.07% |
| 1969 | $2,927,309.18 | 6.90% |
| 1970 | $3,113,528.36 | 6.36% |
| 1971 | $3,314,560.44 | 6.46% |
| 1972 | $3,421,777.55 | 3.23% |
| 1973 | $3,554,388.18 | 3.88% |
| 1974 | $3,885,209.39 | 9.31% |
| 1975 | $4,353,578.85 | 12.06% |
| 1976 | $4,767,634.39 | 9.51% |
| 1977 | $5,223,307.10 | 9.56% |
| 1978 | $5,664,166.91 | 8.44% |
| 1979 | $6,188,261.06 | 9.25% |
| 1980 | $6,866,127.12 | 10.95% |
| 1981 | $7,603,950.10 | 10.75% |
| 1982 | $8,486,375.11 | 11.60% |
| 1983 | $9,224,198.10 | 8.69% |
| 1984 | $9,798,373.92 | 6.22% |
| 1985 | $10,409,229.28 | 6.23% |
| 1986 | $11,190,785.57 | 7.51% |
| 1987 | $11,933,546.18 | 6.64% |
| 1988 | $12,712,986.34 | 6.53% |
| 1989 | $13,686,404.81 | 7.66% |
| 1990 | $14,928,571.43 | 9.08% |
| 1991 | $16,232,105.73 | 8.73% |
| 1992 | $17,429,128.30 | 7.37% |
| 1993 | $18,468,852.09 | 5.97% |
| 1994 | $19,349,866.35 | 4.77% |
| 1995 | $20,216,773.09 | 4.48% |
| 1996 | $20,927,791.80 | 3.52% |
| 1997 | $21,511,137.51 | 2.79% |
| 1998 | $22,203,111.08 | 3.22% |
| 1999 | $22,978,318.98 | 3.49% |
| 2000 | $23,910,825.66 | 4.06% |
| 2001 | $25,011,917.14 | 4.60% |
| 2002 | $26,189,189.19 | 4.71% |
| 2003 | $27,241,609.74 | 4.02% |
| 2004 | $28,438,632.31 | 4.39% |
| 2005 | $29,639,181.76 | 4.22% |
| 2006 | $30,827,739.83 | 4.01% |
| 2007 | $32,191,209.90 | 4.42% |
| 2008 | $33,384,324.70 | 3.71% |
| 2009 | $34,443,298.19 | 3.17% |
| 2010 | $35,619,103.06 | 3.41% |
| 2011 | $36,703,152.66 | 3.04% |
| 2012 | $38,048,043.14 | 3.66% |
| 2013 | $38,984,337.69 | 2.46% |
| 2014 | $39,915,793.36 | 2.39% |
| 2015 | $40,966,647.98 | 2.63% |
| 2016 | $42,518,432.21 | 3.79% |
| 2017 | $43,586,462.73 | 2.51% |
| 2018 | $44,447,070.46 | 1.97% |
| 2019 | $45,703,923.00 | 2.83% |
| 2020 | $47,580,285.86 | 4.11% |
| 2021 | $48,167,236.04 | 1.23% |
| 2022 | $50,118,326.40 | 4.05% |
| 2023 | $50,350,395.01 | 0.46% |
| 2024 | $51,557,775.63 | 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 |