Services less medical care services price inflation, 2022→2024

Services Less Medical Care Services Inflation Calculator

Prices for Services Less Medical Care Services, 2022-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for services less medical care services are 12.16% higher in 2024 versus 2022 (a $2.43 difference in value).

Between 2022 and 2024: Services less medical care services experienced an average inflation rate of 5.91% per year. This rate of change indicates significant inflation. In other words, services less medical care services costing $20 in the year 2022 would cost $22.43 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.50% during this same period, inflation for services less medical care services was higher.

In the year 2022: Pricing changed by 6.45%, which is above the average yearly change for services less medical care services during the 2022-2024 time period. Compared to inflation for all items in 2022 (8%), inflation for services less medical care services was lower.

Price Inflation for Services less medical care services since 1957

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 1980 (15.85%), 1981 (13.37%), and 1979 (11.18%).

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Buying power of $20.00 since 2022

Below are calculations of equivalent buying power for Services less medical care services, over time, for $20 beginning in 2022. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2022	$20.00	6.45%
2023	$21.37	6.84%
2024	$22.43	4.98%*

* 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 Services less medical care services:

Year	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	22.840	23.640	24.240	25.000	25.460	25.880	26.320	26.800	27.420	28.400	29.400	30.940	33.225	35.585	37.469	38.923	40.585	44.323	48.315	52.146	55.931	60.731	67.523	78.223	88.685	96.431	99.223	104.331	109.554	114.623	119.069	124.277	130.092	136.823	143.338	148.362	153.600	158.385	163.477	168.692	173.885	178.385	182.723	188.869	196.638	202.500	208.731	214.454	221.223	229.577	236.847	244.987	248.122	249.569	253.554	258.479	264.546	271.455	277.656	285.187	293.018	301.327	309.096	314.522	323.885	344.760	368.351	386.689

Adjust services less medical care services prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2022 * 2022 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Services less medical care services was 344.760 in the year 2022 and 386.689 in 2024:

386.689 / 344.760 * $20 = $22.43

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2022 has the same "purchasing power" as $22.43 in 2024 (in the CPI category of Services less medical care services).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Services less medical care services in 1957. In addition to services less medical care services, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.