According to the U.S. Bureau of Labor Statistics, prices for physicians' services are 1,801.33% higher in 2024 versus 1960 (a $360.27 difference in value).
Between 1960 and 2024: Physicians' services experienced an average inflation rate of 4.71% per year. This rate of change indicates significant inflation. In other words, physicians' services costing $20 in the year 1960 would cost $380.27 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.76% during this same period, inflation for physicians' services was higher.
In the year 1960: Pricing changed by 2.62%, which is below the average yearly change for physicians' services during the 1960-2024 time period. Compared to inflation for all items in 1960 (1.48%), inflation for physicians' services was higher.
Below are calculations of equivalent buying power for Physicians' services, over time, for $20 beginning in 1960. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1960 | $20.00 | 2.62% |
| 1961 | $20.51 | 2.55% |
| 1962 | $21.09 | 2.85% |
| 1963 | $21.57 | 2.25% |
| 1964 | $22.14 | 2.65% |
| 1965 | $22.97 | 3.74% |
| 1966 | $24.31 | 5.82% |
| 1967 | $26.02 | 7.06% |
| 1968 | $27.46 | 5.54% |
| 1969 | $29.26 | 6.54% |
| 1970 | $31.44 | 7.46% |
| 1971 | $33.64 | 6.99% |
| 1972 | $34.68 | 3.09% |
| 1973 | $35.82 | 3.30% |
| 1974 | $39.10 | 9.15% |
| 1975 | $43.91 | 12.30% |
| 1976 | $48.86 | 11.27% |
| 1977 | $53.38 | 9.25% |
| 1978 | $57.82 | 8.32% |
| 1979 | $63.12 | 9.16% |
| 1980 | $69.79 | 10.57% |
| 1981 | $77.48 | 11.01% |
| 1982 | $84.75 | 9.38% |
| 1983 | $91.30 | 7.73% |
| 1984 | $97.66 | 6.96% |
| 1985 | $103.36 | 5.84% |
| 1986 | $110.83 | 7.22% |
| 1987 | $118.99 | 7.36% |
| 1988 | $127.54 | 7.18% |
| 1989 | $136.91 | 7.35% |
| 1990 | $146.75 | 7.19% |
| 1991 | $155.53 | 5.98% |
| 1992 | $165.29 | 6.28% |
| 1993 | $174.53 | 5.59% |
| 1994 | $182.26 | 4.43% |
| 1995 | $190.53 | 4.54% |
| 1996 | $197.42 | 3.62% |
| 1997 | $203.35 | 3.00% |
| 1998 | $209.38 | 2.96% |
| 1999 | $215.35 | 2.85% |
| 2000 | $223.22 | 3.66% |
| 2001 | $231.42 | 3.67% |
| 2002 | $237.79 | 2.75% |
| 2003 | $244.22 | 2.70% |
| 2004 | $253.90 | 3.96% |
| 2005 | $262.28 | 3.30% |
| 2006 | $266.33 | 1.54% |
| 2007 | $276.68 | 3.89% |
| 2008 | $284.07 | 2.67% |
| 2009 | $292.73 | 3.05% |
| 2010 | $302.31 | 3.27% |
| 2011 | $310.49 | 2.71% |
| 2012 | $316.88 | 2.06% |
| 2013 | $323.14 | 1.97% |
| 2014 | $327.64 | 1.39% |
| 2015 | $334.02 | 1.95% |
| 2016 | $344.97 | 3.28% |
| 2017 | $346.79 | 0.53% |
| 2018 | $347.13 | 0.10% |
| 2019 | $349.66 | 0.73% |
| 2020 | $355.75 | 1.74% |
| 2021 | $370.92 | 4.26% |
| 2022 | $375.85 | 1.33% |
| 2023 | $376.44 | 0.16% |
| 2024 | $380.27 | 1.02%* |
* 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 Physicians' services:
| Year | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 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 | 11.100 | 11.200 | 11.200 | 11.200 | 11.200 | 11.200 | 11.300 | 11.500 | 12.300 | 12.800 | 13.100 | 13.700 | 14.650 | 15.220 | 15.480 | 15.720 | 16.320 | 17.040 | 17.480 | 18.020 | 18.600 | 19.160 | 20.040 | 20.660 | 21.360 | 21.920 | 22.480 | 23.120 | 23.640 | 24.267 | 25.175 | 26.640 | 28.520 | 30.100 | 32.069 | 34.462 | 36.869 | 38.008 | 39.262 | 42.854 | 48.123 | 53.546 | 58.500 | 63.369 | 69.177 | 76.492 | 84.915 | 92.885 | 100.069 | 107.038 | 113.285 | 121.469 | 130.415 | 139.785 | 150.054 | 160.838 | 170.462 | 181.162 | 191.285 | 199.762 | 208.823 | 216.377 | 222.869 | 229.477 | 236.023 | 244.654 | 253.638 | 260.623 | 267.662 | 278.269 | 287.462 | 291.900 | 303.242 | 311.342 | 320.831 | 331.330 | 340.301 | 347.306 | 354.161 | 359.097 | 366.082 | 378.082 | 380.086 | 380.451 | 383.228 | 389.900 | 406.528 | 411.927 | 412.581 | 416.771 |