According to the U.S. Bureau of Labor Statistics, prices for medical care are 2,964.95% higher in 2024 versus 1955 (a $252,020,644.24 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 $8,500,000 in the year 1955 would cost $260,520,644.24 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 $8,500,000 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 | $8,500,000.00 | 2.33% |
1956 | $8,811,893.72 | 3.67% |
1957 | $9,173,977.22 | 4.11% |
1958 | $9,611,345.42 | 4.77% |
1959 | $10,016,448.76 | 4.21% |
1960 | $10,371,362.29 | 3.54% |
1961 | $10,683,256.01 | 3.01% |
1962 | $10,966,469.84 | 2.65% |
1963 | $11,228,173.77 | 2.39% |
1964 | $11,457,612.82 | 2.04% |
1965 | $11,737,241.67 | 2.44% |
1966 | $12,257,064.53 | 4.43% |
1967 | $13,121,045.97 | 7.05% |
1968 | $13,916,912.70 | 6.07% |
1969 | $14,877,688.74 | 6.90% |
1970 | $15,824,124.84 | 6.36% |
1971 | $16,845,845.63 | 6.46% |
1972 | $17,390,763.39 | 3.23% |
1973 | $18,064,740.62 | 3.88% |
1974 | $19,746,098.69 | 9.31% |
1975 | $22,126,528.89 | 12.06% |
1976 | $24,230,915.23 | 9.51% |
1977 | $26,546,815.69 | 9.56% |
1978 | $28,787,431.46 | 8.44% |
1979 | $31,451,075.50 | 9.25% |
1980 | $34,896,246.31 | 10.95% |
1981 | $38,646,140.87 | 10.75% |
1982 | $43,130,957.40 | 11.60% |
1983 | $46,880,851.96 | 8.69% |
1984 | $49,799,029.95 | 6.22% |
1985 | $52,903,627.16 | 6.23% |
1986 | $56,875,790.81 | 7.51% |
1987 | $60,650,780.26 | 6.64% |
1988 | $64,612,188.95 | 6.53% |
1989 | $69,559,468.58 | 7.66% |
1990 | $75,872,627.58 | 9.08% |
1991 | $82,497,680.30 | 8.73% |
1992 | $88,581,400.25 | 7.37% |
1993 | $93,865,668.49 | 5.97% |
1994 | $98,343,315.06 | 4.77% |
1995 | $102,749,261.91 | 4.48% |
1996 | $106,362,927.04 | 3.52% |
1997 | $109,327,709.83 | 2.79% |
1998 | $112,844,580.35 | 3.22% |
1999 | $116,784,479.12 | 3.49% |
2000 | $121,523,829.61 | 4.06% |
2001 | $127,119,991.56 | 4.60% |
2002 | $133,103,331.93 | 4.71% |
2003 | $138,452,129.90 | 4.02% |
2004 | $144,535,849.85 | 4.39% |
2005 | $150,637,494.73 | 4.22% |
2006 | $156,678,194.85 | 4.01% |
2007 | $163,607,863.77 | 4.42% |
2008 | $169,671,722.90 | 3.71% |
2009 | $175,053,825.39 | 3.17% |
2010 | $181,029,708.98 | 3.41% |
2011 | $186,539,257.70 | 3.04% |
2012 | $193,374,498.10 | 3.66% |
2013 | $198,133,099.96 | 2.46% |
2014 | $202,867,108.81 | 2.39% |
2015 | $208,207,948.12 | 2.63% |
2016 | $216,094,700.55 | 3.79% |
2017 | $221,522,834.25 | 2.51% |
2018 | $225,896,767.19 | 1.97% |
2019 | $232,284,565.58 | 2.83% |
2020 | $241,820,948.97 | 4.11% |
2021 | $244,804,051.03 | 1.23% |
2022 | $254,720,227.75 | 4.05% |
2023 | $255,899,687.90 | 0.46% |
2024 | $260,520,644.24 | 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 |