Medical care priced at $1 in 1973 $1.09 in 1974

Medical Care Inflation Calculator

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Prices for Medical Care, 1973-1974 ($1)

According to the U.S. Bureau of Labor Statistics, prices for medical care were 9.31% higher in 1974 versus 1973 (a $0.09 difference in value).

Between 1973 and 1974: Medical care experienced an average inflation rate of 9.31% per year. This rate of change indicates significant inflation. In other words, medical care costing $1 in the year 1973 would cost $1.09 in 1974 for an equivalent purchase. Compared to the overall inflation rate of 11.05% during this same period, inflation for medical care was lower.

In the year 1973: Pricing changed by 3.88%, which is significantly below the average yearly change for medical care during the 1973-1974 time period. Compared to inflation for all items in 1973 (6.18%), inflation for medical care was lower.

Price Inflation for Medical care since 1935

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1975 (12.06%), 1982 (11.60%), and 1980 (10.95%).

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Buying power of $1.00 since 1973

Below are calculations of equivalent buying power for Medical care, over time, for $1 beginning in 1973. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1973$1.003.88%
1974$1.099.31%
1975$1.2212.06%
1976$1.349.51%
1977$1.479.56%
1978$1.598.44%
1979$1.749.25%
1980$1.9310.95%
1981$2.1410.75%
1982$2.3911.60%
1983$2.608.69%
1984$2.766.22%
1985$2.936.23%
1986$3.157.51%
1987$3.366.64%
1988$3.586.53%
1989$3.857.66%
1990$4.209.08%
1991$4.578.73%
1992$4.907.37%
1993$5.205.97%
1994$5.444.77%
1995$5.694.48%
1996$5.893.52%
1997$6.052.79%
1998$6.253.22%
1999$6.463.49%
2000$6.734.06%
2001$7.044.60%
2002$7.374.71%
2003$7.664.02%
2004$8.004.39%
2005$8.344.22%
2006$8.674.01%
2007$9.064.42%
2008$9.393.71%
2009$9.693.17%
2010$10.023.41%
2011$10.333.04%
2012$10.703.66%
2013$10.972.46%
2014$11.232.39%
2015$11.532.63%
2016$11.963.79%
2017$12.262.51%
2018$12.501.97%
2019$12.862.83%
2020$13.394.11%
2021$13.551.23%
2022$14.104.05%
2023$14.170.46%
2024$14.381.48%*

* 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:

Year193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI10.20010.20010.30010.30010.36010.36010.42010.74011.26011.58011.90012.56013.53814.37714.83815.11515.83816.70017.29217.82318.23818.90819.68520.62321.49222.25422.92323.53124.09224.58525.18526.30028.15429.86231.92333.95436.14637.31538.76242.36947.47751.99256.96261.76967.48574.87782.92392.546100.592106.854113.515122.038130.138138.638149.254162.800177.015190.069201.408211.015220.469228.223234.585242.131250.585260.754272.762285.600297.077310.131323.223336.185351.054364.065375.613388.436400.258414.924425.134435.292446.752463.675475.322484.707498.413518.876525.276546.554549.084557.226

Adjust medical care prices for inflation

Start with the inflation rate formula:

CPI in 1974 / CPI in 1973 * 1973 USD value = 1974 USD value

Then plug in historical CPI values from above. The CPI for Medical care was 38.762 in the year 1973 and 42.369 in 1974:

42.369 / 38.762 * $1 = $1.09

Therefore, according to U.S. Bureau of Labor Statistics, $1 in 1973 has the same "purchasing power" as $1.09 in 1974 (in the CPI category of Medical care).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Medical care in 1935. In addition to medical care, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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