According to the U.S. Bureau of Labor Statistics, prices for hospital services were 24.16% higher in 2022 versus 2016 (a $280.21 difference in value).
Between 2016 and 2022: Hospital services experienced an average inflation rate of 3.67% per year. This rate of change indicates significant inflation. In other words, hospital services costing $1,160 in the year 2016 would cost $1,440.21 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.36% during this same period, inflation for hospital services was higher.
In the year 2016: Pricing changed by 4.53%, which is above the average yearly change for hospital services during the 2016-2022 time period. Compared to inflation for all items in 2016 (1.26%), inflation for hospital services was much higher.
Below are calculations of equivalent buying power for Hospital services, over time, for $1,160 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 | $1,160.00 | 4.53% |
| 2017 | $1,217.03 | 4.92% |
| 2018 | $1,270.84 | 4.42% |
| 2019 | $1,296.00 | 1.98% |
| 2020 | $1,350.07 | 4.17% |
| 2021 | $1,390.55 | 3.00% |
| 2022 | $1,440.21 | 3.57% |
| 2023 | $1,499.90 | 4.14% |
| 2024 | $1,584.00 | 5.61%* |
* 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 Hospital services:
| Year | 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 | 100.000 | 101.692 | 104.954 | 109.323 | 115.885 | 123.631 | 134.692 | 144.723 | 153.369 | 161.569 | 172.131 | 183.551 | 197.186 | 210.731 | 227.227 | 241.213 | 253.563 | 265.448 | 278.754 | 290.132 | 303.260 | 318.170 | 332.237 | 338.814 | 352.952 | 363.533 | 376.516 | 392.120 | 414.107 |