According to the U.S. Bureau of Labor Statistics, prices for medical care are 2,411.92% higher in 2024 versus 1960 (a $12,059,615,451.09 difference in value).
Between 1960 and 2024: Medical care experienced an average inflation rate of 5.17% per year. This rate of change indicates significant inflation. In other words, medical care costing $500,000,000 in the year 1960 would cost $12,559,615,451.09 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.75% during this same period, inflation for medical care was higher.
In the year 1960: Pricing changed by 3.54%, which is below the average yearly change for medical care during the 1960-2024 time period. Compared to inflation for all items in 1960 (1.48%), inflation for medical care was higher.
Below are calculations of equivalent buying power for Medical care, over time, for $500,000,000 beginning in 1960. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1960 | $500,000,000.00 | 3.54% |
1961 | $515,036,294.50 | 3.01% |
1962 | $528,689,941.24 | 2.65% |
1963 | $541,306,602.14 | 2.39% |
1964 | $552,367,784.31 | 2.04% |
1965 | $565,848,600.07 | 2.44% |
1966 | $590,909,090.91 | 4.43% |
1967 | $632,561,354.99 | 7.05% |
1968 | $670,929,830.63 | 6.07% |
1969 | $717,248,530.94 | 6.90% |
1970 | $762,875,907.36 | 6.36% |
1971 | $812,132,734.19 | 6.46% |
1972 | $838,403,041.83 | 3.23% |
1973 | $870,895,264.43 | 3.88% |
1974 | $951,952,989.98 | 9.31% |
1975 | $1,066,712,754.93 | 12.06% |
1976 | $1,168,164,535.08 | 9.51% |
1977 | $1,279,813,342.55 | 9.56% |
1978 | $1,387,832,699.62 | 8.44% |
1979 | $1,516,246,111.30 | 9.25% |
1980 | $1,682,336,674.73 | 10.95% |
1981 | $1,863,117,870.72 | 10.75% |
1982 | $2,079,329,415.83 | 11.60% |
1983 | $2,260,110,611.82 | 8.69% |
1984 | $2,400,795,022.47 | 6.22% |
1985 | $2,550,466,643.62 | 6.23% |
1986 | $2,741,963,359.83 | 7.51% |
1987 | $2,923,954,372.62 | 6.64% |
1988 | $3,114,932,595.92 | 6.53% |
1989 | $3,353,439,336.33 | 7.66% |
1990 | $3,657,794,676.81 | 9.08% |
1991 | $3,977,186,311.79 | 8.73% |
1992 | $4,270,480,470.10 | 7.37% |
1993 | $4,525,233,321.81 | 5.97% |
1994 | $4,741,099,204.98 | 4.77% |
1995 | $4,953,508,468.72 | 4.48% |
1996 | $5,127,722,087.80 | 3.52% |
1997 | $5,270,653,301.07 | 2.79% |
1998 | $5,440,200,483.93 | 3.22% |
1999 | $5,630,141,721.40 | 3.49% |
2000 | $5,858,624,265.47 | 4.06% |
2001 | $6,128,413,411.68 | 4.60% |
2002 | $6,416,868,302.80 | 4.71% |
2003 | $6,674,732,111.99 | 4.02% |
2004 | $6,968,026,270.31 | 4.39% |
2005 | $7,262,184,583.48 | 4.22% |
2006 | $7,553,404,770.13 | 4.01% |
2007 | $7,887,481,852.75 | 4.42% |
2008 | $8,179,818,527.48 | 3.71% |
2009 | $8,439,287,936.40 | 3.17% |
2010 | $8,727,383,339.09 | 3.41% |
2011 | $8,992,996,889.04 | 3.04% |
2012 | $9,322,521,603.87 | 3.66% |
2013 | $9,551,932,250.26 | 2.46% |
2014 | $9,780,157,276.18 | 2.39% |
2015 | $10,037,637,400.62 | 2.63% |
2016 | $10,417,855,167.65 | 3.79% |
2017 | $10,679,543,726.24 | 2.51% |
2018 | $10,890,409,609.40 | 1.97% |
2019 | $11,198,363,290.70 | 2.83% |
2020 | $11,658,109,229.17 | 4.11% |
2021 | $11,801,923,608.71 | 1.23% |
2022 | $12,279,979,260.28 | 4.05% |
2023 | $12,336,840,649.84 | 0.46% |
2024 | $12,559,615,451.09 | 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 |