According to the U.S. Bureau of Labor Statistics, prices for medical care are 2,964.95% higher in 2024 versus 1955 (a $10,110,475,257,275.41 difference in value).
Between 1955 and 2024: Medical care experienced an average inflation rate of 5.09% per year. This rate of change indicates significant inflation. In other words, medical care costing $341,000,000,000 in the year 1955 would cost $10,451,475,257,275.41 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.62% during this same period, inflation for medical care was higher.
In the year 1955: Pricing changed by 2.33%, which is below the average yearly change for medical care during the 1955-2024 time period. Compared to inflation for all items in 1955 (-0.29%), inflation for medical care was higher.
Below are calculations of equivalent buying power for Medical care, over time, for $341,000,000,000 beginning in 1955. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1955 | $341,000,000,000.00 | 2.33% |
1956 | $353,512,442,007.59 | 3.67% |
1957 | $368,038,380,430.20 | 4.11% |
1958 | $385,584,563,475.33 | 4.77% |
1959 | $401,836,355,967.95 | 4.21% |
1960 | $416,074,652,045.55 | 3.54% |
1961 | $428,587,094,053.14 | 3.01% |
1962 | $439,948,966,680.73 | 2.65% |
1963 | $450,447,912,273.30 | 2.39% |
1964 | $459,652,467,313.37 | 2.04% |
1965 | $470,870,518,768.45 | 2.44% |
1966 | $491,724,588,781.11 | 4.43% |
1967 | $526,385,491,353.86 | 7.05% |
1968 | $558,313,791,649.09 | 6.07% |
1969 | $596,857,865,879.38 | 6.90% |
1970 | $634,826,655,419.65 | 6.36% |
1971 | $675,815,689,582.45 | 6.46% |
1972 | $697,676,507,802.61 | 3.23% |
1973 | $724,714,888,232.81 | 3.88% |
1974 | $792,167,018,135.81 | 9.31% |
1975 | $887,664,276,676.51 | 12.06% |
1976 | $972,087,304,934.63 | 9.51% |
1977 | $1,064,995,782,370.31 | 9.56% |
1978 | $1,154,884,015,183.47 | 8.44% |
1979 | $1,261,743,146,351.75 | 9.25% |
1980 | $1,399,955,293,125.26 | 10.95% |
1981 | $1,550,392,239,561.37 | 10.75% |
1982 | $1,730,312,526,360.19 | 11.60% |
1983 | $1,880,749,472,796.29 | 8.69% |
1984 | $1,997,819,907,212.15 | 6.22% |
1985 | $2,122,369,042,598.06 | 6.23% |
1986 | $2,281,722,901,729.23 | 7.51% |
1987 | $2,433,166,596,372.84 | 6.64% |
1988 | $2,592,088,991,986.50 | 6.53% |
1989 | $2,790,562,210,037.96 | 7.66% |
1990 | $3,043,831,294,812.32 | 9.08% |
1991 | $3,309,612,821,594.26 | 8.73% |
1992 | $3,553,677,351,328.55 | 7.37% |
1993 | $3,765,669,759,595.11 | 5.97% |
1994 | $3,945,302,404,048.92 | 4.77% |
1995 | $4,122,058,625,052.72 | 4.48% |
1996 | $4,267,030,366,933.78 | 3.52% |
1997 | $4,385,970,476,592.16 | 2.79% |
1998 | $4,527,059,046,815.69 | 3.22% |
1999 | $4,685,118,515,394.35 | 3.49% |
2000 | $4,875,250,105,440.74 | 4.06% |
2001 | $5,099,754,955,714.89 | 4.60% |
2002 | $5,339,792,492,619.15 | 4.71% |
2003 | $5,554,373,681,990.72 | 4.02% |
2004 | $5,798,438,211,725.01 | 4.39% |
2005 | $6,043,221,847,321.81 | 4.22% |
2006 | $6,285,560,522,986.08 | 4.01% |
2007 | $6,563,562,534,795.44 | 4.42% |
2008 | $6,806,830,295,234.08 | 3.71% |
2009 | $7,022,747,583,298.19 | 3.17% |
2010 | $7,262,485,972,163.64 | 3.41% |
2011 | $7,483,516,102,910.16 | 3.04% |
2012 | $7,757,729,865,035.85 | 3.66% |
2013 | $7,948,633,774,778.57 | 2.46% |
2014 | $8,138,551,071,277.94 | 2.39% |
2015 | $8,352,812,977,646.56 | 2.63% |
2016 | $8,669,210,927,878.53 | 3.79% |
2017 | $8,886,974,879,797.56 | 2.51% |
2018 | $9,062,446,777,730.91 | 1.97% |
2019 | $9,318,710,219,316.74 | 2.83% |
2020 | $9,701,287,482,075.07 | 4.11% |
2021 | $9,820,962,517,924.93 | 1.23% |
2022 | $10,218,776,195,698.02 | 4.05% |
2023 | $10,266,093,361,450.86 | 0.46% |
2024 | $10,451,475,257,275.41 | 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 |