According to the U.S. Bureau of Labor Statistics, prices for medicinal drugs are 2.20% higher in 2024 versus 2023 (a $0.44 difference in value).
Between 2023 and 2024: Medicinal drugs experienced an average inflation rate of 2.20% per year. This rate of change indicates significant inflation. In other words, medicinal drugs costing $20 in the year 2023 would cost $20.44 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.83% during this same period, inflation for medicinal drugs was lower.
In the year 2023: Pricing changed by 3.92%, which is above the average yearly change for medicinal drugs during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for medicinal drugs was lower.
Below are calculations of equivalent buying power for Medicinal drugs, over time, for $20 beginning in 2023. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2023 | $20.00 | 3.92% |
| 2024 | $20.44 | 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 |