Medical care priced at $50 in 1998 $115.07 in 2024

Medical Care Inflation Calculator

$

Prices for Medical Care, 1998-2024 ($50)

According to the U.S. Bureau of Labor Statistics, prices for medical care are 130.13% higher in 2024 versus 1998 (a $65.07 difference in value).

Between 1998 and 2024: Medical care experienced an average inflation rate of 3.26% per year. This rate of change indicates significant inflation. In other words, medical care costing $50 in the year 1998 would cost $115.07 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.50% during this same period, inflation for medical care was higher.

In the year 1998: Pricing changed by 3.22%, which is below the average yearly change for medical care during the 1998-2024 time period. Compared to inflation for all items in 1998 (1.55%), inflation for medical care was higher.

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%).

View price changes for other categories
Housing · Chicago, Illinois · Financial services · Wireless telephone services · More

Buying power of $50.00 since 1998

Below are calculations of equivalent buying power for Medical care, over time, for $50 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1998$50.003.22%
1999$51.753.49%
2000$53.854.06%
2001$56.334.60%
2002$58.984.71%
2003$61.354.02%
2004$64.044.39%
2005$66.754.22%
2006$69.424.01%
2007$72.494.42%
2008$75.183.71%
2009$77.563.17%
2010$80.213.41%
2011$82.653.04%
2012$85.683.66%
2013$87.792.46%
2014$89.892.39%
2015$92.252.63%
2016$95.753.79%
2017$98.152.51%
2018$100.091.97%
2019$102.922.83%
2020$107.154.11%
2021$108.471.23%
2022$112.864.05%
2023$113.390.46%
2024$115.071.48%*

* 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 2024 / CPI in 1998 * 1998 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Medical care was 242.131 in the year 1998 and 557.226 in 2024:

557.226 / 242.131 * $50 = $115.07

Therefore, according to U.S. Bureau of Labor Statistics, $50 in 1998 has the same "purchasing power" as $115.07 in 2024 (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.

» Read more about inflation and investment.