According to the U.S. Bureau of Labor Statistics, prices for medicinal drugs are 12.48% higher in 2024 versus 2016 (a $2.50 difference in value).
Between 2016 and 2024: Medicinal drugs experienced an average inflation rate of 1.48% per year. In other words, medicinal drugs costing $20 in the year 2016 would cost $22.50 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.39% during this same period, inflation for medicinal drugs was lower.
In the year 2016: Pricing changed by 3.57%, which is above the average yearly change for medicinal drugs during the 2016-2024 time period. Compared to inflation for all items in 2016 (1.26%), inflation for medicinal drugs was higher.
Below are calculations of equivalent buying power for Medicinal drugs, over time, for $20 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2016 | $20.00 | 3.57% |
| 2017 | $20.58 | 2.88% |
| 2018 | $20.82 | 1.18% |
| 2019 | $20.80 | -0.11% |
| 2020 | $20.93 | 0.63% |
| 2021 | $20.61 | -1.52% |
| 2022 | $21.18 | 2.78% |
| 2023 | $22.01 | 3.92% |
| 2024 | $22.50 | 2.20%* |
* 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 Medicinal drugs:
| Year | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CPI | 100.000 | 102.268 | 105.455 | 108.640 | 109.130 | 111.993 | 115.850 | 119.989 | 123.444 | 124.905 | 124.772 | 125.555 | 123.646 | 127.081 | 132.058 | 134.958 |