According to the U.S. Bureau of Labor Statistics, prices for medical care are 2,960.17% higher in 2024 versus 1955 (a $1,758,343.38 difference in value).
Between 1955 and 2024: Medical care experienced an average inflation rate of 5.08% per year. This rate of change indicates significant inflation. In other words, medical care costing $59,400 in the year 1955 would cost $1,817,743.38 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.61% 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 $59,400 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 | $59,400.00 | 2.33% |
1956 | $61,579.59 | 3.67% |
1957 | $64,109.91 | 4.11% |
1958 | $67,166.34 | 4.77% |
1959 | $69,997.30 | 4.21% |
1960 | $72,477.52 | 3.54% |
1961 | $74,657.11 | 3.01% |
1962 | $76,636.27 | 2.65% |
1963 | $78,465.12 | 2.39% |
1964 | $80,068.49 | 2.04% |
1965 | $82,022.61 | 2.44% |
1966 | $85,655.25 | 4.43% |
1967 | $91,692.96 | 7.05% |
1968 | $97,254.66 | 6.07% |
1969 | $103,968.79 | 6.90% |
1970 | $110,582.71 | 6.36% |
1971 | $117,722.73 | 6.46% |
1972 | $121,530.75 | 3.23% |
1973 | $126,240.66 | 3.88% |
1974 | $137,990.38 | 9.31% |
1975 | $154,625.39 | 12.06% |
1976 | $169,331.34 | 9.51% |
1977 | $185,515.39 | 9.56% |
1978 | $201,173.34 | 8.44% |
1979 | $219,787.52 | 9.25% |
1980 | $243,863.18 | 10.95% |
1981 | $270,068.33 | 10.75% |
1982 | $301,409.28 | 11.60% |
1983 | $327,614.42 | 8.69% |
1984 | $348,007.34 | 6.22% |
1985 | $369,702.99 | 6.23% |
1986 | $397,461.41 | 7.51% |
1987 | $423,841.92 | 6.64% |
1988 | $451,525.18 | 6.53% |
1989 | $486,097.93 | 7.66% |
1990 | $530,215.77 | 9.08% |
1991 | $576,513.20 | 8.73% |
1992 | $619,027.67 | 7.37% |
1993 | $655,955.38 | 5.97% |
1994 | $687,246.23 | 4.77% |
1995 | $718,036.02 | 4.48% |
1996 | $743,289.16 | 3.52% |
1997 | $764,007.76 | 2.79% |
1998 | $788,584.48 | 3.22% |
1999 | $816,117.42 | 3.49% |
2000 | $849,237.12 | 4.06% |
2001 | $888,344.41 | 4.60% |
2002 | $930,157.40 | 4.71% |
2003 | $967,536.06 | 4.02% |
2004 | $1,010,050.53 | 4.39% |
2005 | $1,052,690.26 | 4.22% |
2006 | $1,094,904.09 | 4.01% |
2007 | $1,143,330.25 | 4.42% |
2008 | $1,185,705.92 | 3.71% |
2009 | $1,223,317.32 | 3.17% |
2010 | $1,265,078.20 | 3.41% |
2011 | $1,303,580.22 | 3.04% |
2012 | $1,351,346.49 | 3.66% |
2013 | $1,384,600.72 | 2.46% |
2014 | $1,417,683.09 | 2.39% |
2015 | $1,455,006.13 | 2.63% |
2016 | $1,510,120.61 | 3.79% |
2017 | $1,548,053.69 | 2.51% |
2018 | $1,578,619.76 | 1.97% |
2019 | $1,623,259.20 | 2.83% |
2020 | $1,689,901.69 | 4.11% |
2021 | $1,710,748.31 | 1.23% |
2022 | $1,780,044.89 | 4.05% |
2023 | $1,788,287.23 | 0.46% |
2024 | $1,817,743.38 | 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 |