Veterinarian services price inflation, 2016→2024

Veterinarian Services Inflation Calculator

Prices for Veterinarian Services, 2016-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for veterinarian services are 50.24% higher in 2024 versus 2016 (a $10.05 difference in value).

Between 2016 and 2024: Veterinarian services experienced an average inflation rate of 5.22% per year. This rate of change indicates significant inflation. In other words, veterinarian services costing $20 in the year 2016 would cost $30.05 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.39% during this same period, inflation for veterinarian services was higher.

In the year 2016: Pricing changed by 3.65%, which is below the average yearly change for veterinarian services during the 2016-2024 time period. Compared to inflation for all items in 2016 (1.26%), inflation for veterinarian services was higher.

Price Inflation for Veterinarian services since 1997

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

Years with the largest changes in pricing: 2023 (9.44%), 2022 (8.83%), and 2000 (7.63%).

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Buying power of $20.00 since 2016

Below are calculations of equivalent buying power for Veterinarian services, over time, for $20 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2016	$20.00	3.65%
2017	$20.44	2.20%
2018	$20.96	2.55%
2019	$21.83	4.14%
2020	$22.64	3.70%
2021	$23.59	4.21%
2022	$25.68	8.83%
2023	$28.10	9.44%
2024	$30.05	6.94%*

* 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 Veterinarian services:

Year	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	100.000	102.485	106.762	114.908	122.738	129.631	136.454	144.685	153.392	160.115	170.356	181.355	191.211	198.359	208.210	214.238	219.859	227.624	236.187	244.808	250.203	256.594	267.213	277.093	288.769	314.272	343.929	367.797

Adjust veterinarian services prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2016 * 2016 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Veterinarian services was 244.808 in the year 2016 and 367.797 in 2024:

367.797 / 244.808 * $20 = $30.05

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2016 has the same "purchasing power" as $30.05 in 2024 (in the CPI category of Veterinarian services).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Veterinarian services in 1997. In addition to veterinarian services, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.