Medical care prices and overall health spending historically outpace growth in the rest of the economy. Health costs usually represent a growing share of gross domestic product and many American families have seen the costs of health services and premiums grow faster than their wages. However, since 2021 prices for many consumer goods and services have increased faster than usual, with overall inflation reaching a 4-decade high in mid-2022. This brief analyzes prices for medical care compared to other goods and services using consumer price index (CPI) and producer price index (PPI) data from the Bureau of Labor Statistics (BLS) and personal consumption expenditures (PCE) price index data from the Bureau of Economic Analysis (BEA).
Read the full article: How Does Medical Inflation Compare to Inflation in the Rest of the Economy? //
Source: https://www.healthsystemtracker.org/brief/how-does-medical-inflation-compare-to-inflation-in-the-rest-of-the-economy/