Tuesday, November 24, 2015

Medical Costs Surge Past Staples : Who Knew?

20151117 CPI

It seems much of this information is lost on the general public that doesn't understand the immediate price fluctuations in the cost of healthcare, and care enough about a coming catastrophe to set their phones aside and take notice of what they are paying for staple items like food and manufactured goods, let alone health care.

This rising cost of healthcare, and virtually everything else to survive in this country, is the direct responsibility of the progressive socialist democrats as they have been in charge for the last 7 years and voted alone to bring about ObjmaCare.

What good reasons to vote for more democrats to bring more failure.

CPI: Medical Prices Rose Three Times Faster Than Other Prices; Hospitals Stand Out
By John R. Graham

October’s Consumer Price Index (CPI) confirms medical prices continue to spring ahead of prices for other goods and services.

Overall CPI increased 0.2 percent on the month and also 0.2 percent, year on year. Medical prices, on the other hand, increased 0.7 percent on the month and 3.0 percent, year on year (Table I).

To be sure, much of the very tame CPI over the last twelve months is due to the decline in energy prices. Nevertheless, the CPI for all items less food and energy rose just 1.9 percent, significantly less than medical care’s 3.0 percent.

If it were not for health care, CPI would be deflating, both during October and for the last twelve months.

While prices of prescription drugs have increased a lot over the last twelve months, the fastest growing prices are for hospitalization: 5.3 percent. This suggests the current political outcry over prescription prices, while understandable, might not be addressing the correct target.

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