Outpatient hospital services price inflation, 2023→2024

Outpatient Hospital Services Inflation Calculator

Prices for Outpatient Hospital Services, 2023-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for outpatient hospital services are 6.08% higher in 2024 versus 2023 (a $1.22 difference in value).

Between 2023 and 2024: Outpatient hospital services experienced an average inflation rate of 6.08% per year. This rate of change indicates significant inflation. In other words, outpatient hospital services costing $20 in the year 2023 would cost $21.22 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.83% during this same period, inflation for outpatient hospital services was significantly higher.

In the year 2023: Pricing changed by 5.35%, which is below the average yearly change for outpatient hospital services during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for outpatient hospital services was higher.

Price Inflation for Outpatient hospital services since 1986

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 1990 (11.19%), 1989 (10.86%), and 1991 (10.59%).

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Buying power of $20.00 since 2023

Below are calculations of equivalent buying power for Outpatient hospital services, 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	5.35%
2024	$21.22	6.08%*

* 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 Outpatient hospital services:

Year	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	100.000	103.331	112.515	124.738	138.700	153.392	168.669	184.308	195.023	204.562	215.054	224.862	233.154	246.000	263.792	281.138	309.777	337.931	356.277	372.985	395.008	424.230	456.849	490.622	520.550	546.863	574.023	601.670	628.913	653.191	672.374	705.811	735.647	747.849	771.583	790.720	815.619	859.231	911.445

Adjust outpatient hospital services prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2023 * 2023 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Outpatient hospital services was 859.231 in the year 2023 and 911.445 in 2024:

911.445 / 859.231 * $20 = $21.22

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2023 has the same "purchasing power" as $21.22 in 2024 (in the CPI category of Outpatient hospital services).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Outpatient hospital services in 1986. In addition to outpatient hospital services, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.