Prescription drugs priced at $10 in 1998 $20.62 in 2022

Prescription Drugs Inflation Calculator

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Prices for Prescription Drugs, 1998-2022 ($10)

According to the U.S. Bureau of Labor Statistics, prices for prescription drugs are 106.22% higher in 2022 versus 1998 (a $10.62 difference in value).

Between 1998 and 2022: Prescription drugs experienced an average inflation rate of 3.06% per year. This rate of change indicates significant inflation. In other words, prescription drugs costing $10 in the year 1998 would cost $20.62 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 2.43% during this same period, inflation for prescription drugs was higher.

In the year 1998: Pricing changed by 3.76%, which is above the average yearly change for prescription drugs during the 1998-2022 time period. Compared to inflation for all items in 1998 (1.55%), inflation for prescription drugs was higher.

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 1998

Below are calculations of equivalent buying power for Prescription drugs, over time, for $10 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1998$10.003.76%
1999$10.575.70%
2000$11.044.41%
2001$11.635.41%
2002$12.245.20%
2003$12.623.09%
2004$13.033.31%
2005$13.503.54%
2006$14.074.28%
2007$14.271.43%
2008$14.632.47%
2009$15.123.38%
2010$15.774.29%
2011$16.434.21%
2012$17.023.57%
2013$17.110.55%
2014$17.723.56%
2015$18.534.58%
2016$19.434.84%
2017$20.093.40%
2018$20.421.61%
2019$20.37-0.23%
2020$20.571.01%
2021$20.20-1.82%
2022$20.622.10%*

* 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:

Year1935193619371938193919401941194219431944194519461947194819491950195119521953195419551956195719581959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022
CPI30.60030.60030.80031.00031.00031.00031.40032.20032.50033.10033.50034.60038.58341.38042.26043.48045.54046.06046.02046.98047.68049.08050.80053.06054.26053.90052.04049.96048.86048.23347.75047.64046.74046.00046.58547.38547.40847.20847.06248.20051.16953.94657.17761.63166.38572.45480.76990.200100.100109.700120.100130.415140.846152.015165.231181.685199.662214.731223.023230.569235.023242.862249.262258.623273.377285.423300.854316.485326.269337.085349.015363.938369.157378.284391.055407.824424.981440.149442.580458.343479.315502.510519.618528.008526.785532.081522.392533.339

Adjust prescription drugs prices for inflation

Start with the inflation rate formula:

CPI in 2022 / CPI in 1998 * 1998 USD value = 2022 USD value

Then plug in historical CPI values from above. The CPI for Prescription drugs was 258.623 in the year 1998 and 533.339 in 2022:

533.339 / 258.623 * $10 = $20.62

Therefore, according to U.S. Bureau of Labor Statistics, $10 in 1998 has the same "purchasing power" as $20.62 in 2022 (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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