According to the U.S. Bureau of Labor Statistics, prices for medical care are 2,216.63% higher in 2024 versus 1963 (a $44,332,520.22 difference in value).
Between 1963 and 2024: Medical care experienced an average inflation rate of 5.29% per year. This rate of change indicates significant inflation. In other words, medical care costing $2,000,000 in the year 1963 would cost $46,332,520.22 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.87% during this same period, inflation for medical care was higher.
In the year 1963: Pricing changed by 2.39%, which is below the average yearly change for medical care during the 1963-2024 time period. Compared to inflation for all items in 1963 (1.25%), inflation for medical care was higher.
Below are calculations of equivalent buying power for Medical care, over time, for $2,000,000 beginning in 1963. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1963 | $2,000,000.00 | 2.39% |
1964 | $2,040,868.45 | 2.04% |
1965 | $2,090,676.88 | 2.44% |
1966 | $2,183,269.48 | 4.43% |
1967 | $2,337,164.75 | 7.05% |
1968 | $2,478,927.20 | 6.07% |
1969 | $2,650,063.86 | 6.90% |
1970 | $2,818,646.23 | 6.36% |
1971 | $3,000,638.57 | 6.46% |
1972 | $3,097,701.15 | 3.23% |
1973 | $3,217,752.23 | 3.88% |
1974 | $3,517,241.38 | 9.31% |
1975 | $3,941,251.60 | 12.06% |
1976 | $4,316,091.95 | 9.51% |
1977 | $4,728,607.92 | 9.56% |
1978 | $5,127,713.92 | 8.44% |
1979 | $5,602,171.14 | 9.25% |
1980 | $6,215,836.53 | 10.95% |
1981 | $6,883,780.33 | 10.75% |
1982 | $7,682,630.91 | 11.60% |
1983 | $8,350,574.71 | 8.69% |
1984 | $8,870,370.37 | 6.22% |
1985 | $9,423,371.65 | 6.23% |
1986 | $10,130,906.77 | 7.51% |
1987 | $10,803,320.56 | 6.64% |
1988 | $11,508,939.97 | 6.53% |
1989 | $12,390,166.03 | 7.66% |
1990 | $13,514,687.10 | 9.08% |
1991 | $14,694,763.73 | 8.73% |
1992 | $15,778,416.35 | 7.37% |
1993 | $16,719,667.94 | 5.97% |
1994 | $17,517,241.38 | 4.77% |
1995 | $18,302,043.42 | 4.48% |
1996 | $18,945,721.58 | 3.52% |
1997 | $19,473,818.65 | 2.79% |
1998 | $20,100,255.43 | 3.22% |
1999 | $20,802,043.42 | 3.49% |
2000 | $21,646,232.44 | 4.06% |
2001 | $22,643,039.59 | 4.60% |
2002 | $23,708,812.26 | 4.71% |
2003 | $24,661,558.11 | 4.02% |
2004 | $25,745,210.73 | 4.39% |
2005 | $26,832,056.19 | 4.22% |
2006 | $27,908,045.98 | 4.01% |
2007 | $29,142,381.86 | 4.42% |
2008 | $30,222,496.81 | 3.71% |
2009 | $31,181,174.97 | 3.17% |
2010 | $32,245,619.41 | 3.41% |
2011 | $33,226,998.72 | 3.04% |
2012 | $34,444,514.69 | 3.66% |
2013 | $35,292,132.82 | 2.46% |
2014 | $36,135,370.37 | 2.39% |
2015 | $37,086,698.60 | 2.63% |
2016 | $38,491,513.41 | 3.79% |
2017 | $39,458,390.80 | 2.51% |
2018 | $40,237,490.42 | 1.97% |
2019 | $41,375,306.51 | 2.83% |
2020 | $43,073,959.13 | 4.11% |
2021 | $43,605,319.28 | 1.23% |
2022 | $45,371,621.97 | 4.05% |
2023 | $45,581,711.37 | 0.46% |
2024 | $46,332,520.22 | 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 |