Perhaps not in the next several years, but looking ahead, I would forsee the increased need as the population ages, causing the supply/demand factor coming into balance, and expect that future costs to be less than the inflation factor.
The economies of scale, the improvement in the utilization of technology, and the natural growth of an industry which growth is so early foreseen, should optimize the services that today are very labor intensive, and (as a bad/sick analogy) drop the price of care and maintenance, much in the way that private prisons have reduced total costs for incarceration.
In our area alone... a rural/metro that services may small towns and villages Metropolitan area - Wikipedia, the free encyclopedia
... our local "senior facilities" exposition has gone from featuring 4 senior living facilities, only three years ago, to twelve this past week.
At the same time that the public industry grows, so too, should we expect more refined versions of the Japanese model of senior care at home... either a one on one in-home 24/7 care, or the growing concept of the mother-in-law apartment/room.
We live in a CCRC, that has assisted living, rehab apartments, nursinghome, and Alzheimers units. In just the 10 years that we have lived here (in a regular single villa/home), we have seen a quantum leap in efficiency of care, while maintaining the professional/personal care. Better training, learned efficiencies of scheduling and better management have slowed the expense factor, so that prices have remained relatively stable for the past three years.
Technology that personalizes needs and things like diet, medication and personal care schedules allow for food, medical, and specialized requirements to be effected without excessive labor expenses. The newer building design maximizes space and movement while providing more social interaction.
We had a good chance to see simple example of the efficiencies last week, when there was a Music entertainment show in the "auditorium" . An audience of about 80, was brought in (perhaps 20 in wheelchairs) and seated in less than 5 minutes. Wide aisles, a scheduled movement plan, seating plan, space for serving cookie and cocoa to all, and then returning all to their rooms was accomplished with 5 aides, with excellent efficiency and no confusion or upset.
Since we had also seen operations in Florida with a similar size (several years ago), we we mightily impressed with the contentment of the residents, and the excellent care given by the employees. All in all, a happy facility.
The OP asked for a look ahead at costs. Not only do I see a leveling off, but I also see a general improvement in the care of the residents. We have no fear of the future, if we should have to enter assisted living or nursing home care.