Prescription drugs priced at $10 in 2007 $14.85 in 2023

Prescription Drugs Inflation Calculator


Prices for Prescription Drugs, 2007-2023 ($10)

According to the U.S. Bureau of Labor Statistics, prices for prescription drugs are 48.54% higher in 2023 versus 2007 (a $4.85 difference in value).

Between 2007 and 2023: Prescription drugs experienced an average inflation rate of 2.50% per year. This rate of change indicates significant inflation. In other words, prescription drugs costing $10 in the year 2007 would cost $14.85 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.41% during this same period, inflation for prescription drugs was higher.

In the year 2007: Pricing changed by 1.43%, which is below the average yearly change for prescription drugs during the 2007-2023 time period. Compared to inflation for all items in 2007 (2.85%), inflation for prescription drugs was 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%).

View price changes for other categories
Dental services · College tuition and fees · Film and photographic supplies · St Louis, Missouri · More

Buying power of $10.00 since 2007

Below are calculations of equivalent buying power for Prescription drugs, over time, for $10 beginning in 2007. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate

* 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:


Adjust prescription drugs prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2007 * 2007 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Prescription drugs was 369.157 in the year 2007 and 548.329 in 2023:

548.329 / 369.157 * $10 = $14.85

Therefore, according to U.S. Bureau of Labor Statistics, $10 in 2007 has the same "purchasing power" as $14.85 in 2023 (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.

» Read more about inflation and investment.