Prescription drugs priced at $10 in 2021 $10.47 in 2023

Prescription Drugs Inflation Calculator


Prices for Prescription Drugs, 2021-2023 ($10)

According to the U.S. Bureau of Labor Statistics, prices for prescription drugs are 4.71% higher in 2023 versus 2021 (a $0.47 difference in value).

Between 2021 and 2023: Prescription drugs experienced an average inflation rate of 2.33% per year. This rate of change indicates significant inflation. In other words, prescription drugs costing $10 in the year 2021 would cost $10.47 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 5.45% during this same period, inflation for prescription drugs was significantly lower.

In the year 2021: Pricing changed by -1.82%, which is significantly below the average yearly change for prescription drugs during the 2021-2023 time period. Compared to inflation for all items in 2021 (4.70%), 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 2021

Below are calculations of equivalent buying power for Prescription drugs, over time, for $10 beginning in 2021. 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 2021 * 2021 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Prescription drugs was 522.392 in the year 2021 and 547.002 in 2023:

547.002 / 522.392 * $10 = $10.47

Therefore, according to U.S. Bureau of Labor Statistics, $10 in 2021 has the same "purchasing power" as $10.47 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.

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