Prescription drugs priced at $10 in 1970 $117.50 in 2024

Prescription Drugs Inflation Calculator

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Prices for Prescription Drugs, 1970-2024 ($10)

According to the U.S. Bureau of Labor Statistics, prices for prescription drugs are 1,075.02% higher in 2024 versus 1970 (a $107.50 difference in value).

Between 1970 and 2024: Prescription drugs experienced an average inflation rate of 4.67% per year. This rate of change indicates significant inflation. In other words, prescription drugs costing $10 in the year 1970 would cost $117.50 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.94% during this same period, inflation for prescription drugs was higher.

In the year 1970: Pricing changed by 1.72%, which is below the average yearly change for prescription drugs during the 1970-2024 time period. Compared to inflation for all items in 1970 (5.83%), inflation for prescription drugs was much lower.

Price Inflation for Prescription drugs since 1935

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1982 (11.68%), 1947 (11.51%), and 1981 (11.48%).

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Buying power of $10.00 since 1970

Below are calculations of equivalent buying power for Prescription drugs, over time, for $10 beginning in 1970. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1970$10.001.72%
1971$10.000.05%
1972$9.96-0.42%
1973$9.93-0.31%
1974$10.172.42%
1975$10.806.16%
1976$11.385.43%
1977$12.075.99%
1978$13.017.79%
1979$14.017.71%
1980$15.299.14%
1981$17.0511.48%
1982$19.0411.68%
1983$21.1310.98%
1984$23.159.59%
1985$25.359.48%
1986$27.528.59%
1987$29.728.00%
1988$32.087.93%
1989$34.878.69%
1990$38.349.96%
1991$42.149.89%
1992$45.327.55%
1993$47.073.86%
1994$48.663.38%
1995$49.601.93%
1996$51.253.34%
1997$52.602.64%
1998$54.583.76%
1999$57.695.70%
2000$60.244.41%
2001$63.495.41%
2002$66.795.20%
2003$68.863.09%
2004$71.143.31%
2005$73.663.54%
2006$76.814.28%
2007$77.911.43%
2008$79.832.47%
2009$82.533.38%
2010$86.074.29%
2011$89.694.21%
2012$92.893.57%
2013$93.400.55%
2014$96.733.56%
2015$101.154.58%
2016$106.054.84%
2017$109.663.40%
2018$111.431.61%
2019$111.17-0.23%
2020$112.291.01%
2021$110.25-1.82%
2022$112.682.21%
2023$115.962.91%
2024$117.501.33%*

* 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 Prescription drugs:

Year193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI30.60030.60030.80031.00031.00031.00031.40032.20032.50033.10033.50034.60038.58341.38042.26043.48045.54046.06046.02046.98047.68049.08050.80053.06054.26053.90052.04049.96048.86048.23347.75047.64046.74046.00046.58547.38547.40847.20847.06248.20051.16953.94657.17761.63166.38572.45480.76990.200100.100109.700120.100130.415140.846152.015165.231181.685199.662214.731223.023230.569235.023242.862249.262258.623273.377285.423300.854316.485326.269337.085349.015363.938369.157378.284391.055407.824424.981440.149442.580458.343479.315502.510519.618528.008526.785532.081522.392533.925549.458556.777

Adjust prescription drugs prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1970 * 1970 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Prescription drugs was 47.385 in the year 1970 and 556.777 in 2024:

556.777 / 47.385 * $10 = $117.50

Therefore, according to U.S. Bureau of Labor Statistics, $10 in 1970 has the same "purchasing power" as $117.50 in 2024 (in the CPI category of Prescription drugs).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Prescription drugs in 1935. In addition to prescription drugs, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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