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How does medical inflation compare to inflation in the rest of the economy?

Medical care prices have generally grown faster than overall consumer prices

Cumulative percent change in Consumer Price Index for All Urban Consumers (CPI-U) for medical care and for all goods and services, January 2000 - June 2024

Source: Bureau of Labor Statistics (BLS) & Consumer Price Index (CPI)

In June 2024, prices rose 3.0% across the economy from the previous year, compared to 3.3% for medical care

Annual percent change in Consumer Price Index for All Urban Consumers (CPI-U), January 2001 - June 2024

Source: Bureau of Labor Statistics (BLS) & Consumer Price Index (CPI)

Medical care prices increased somewhat faster than prices for other consumer goods and services in the past year

Annual percent change in Consumer Price Index for All Urban Consumers (CPI-U), June 2023 - June 2024

Source: Bureau of Labor Statistics (BLS) & Consumer Price Index (CPI)

Some health prices increased faster than others in the past year

Annual percent change in Consumer Price Index for All Urban Consumers (CPI-U) for medical care, by category,
June 2023 - June 2024

Source: Bureau of Labor Statistics (BLS) & Consumer Price Index (CPI)

Different measures of medical inflation produce different estimates of price growth

Cumulative percent change in selected health care price indices, June 2009 - June 2024

Note: CPI and PPI data are not seasonally adjusted. Producer Price Index (PPI) data measures health care services as a commodity for all payers. Consumer Price Index for All Urban Consumers (CPI-U) data measures medical care services only, including hospital and other health facility services (excluding drugs and equipment). Personal consumption expenditures (PCE) data measure total personal health care expenses.

Source: Bureau of Labor Statistics (BLS) & Consumer Price Index (CPI)

Prices paid by private insurance generally outpace those paid by public programs

Cumulative percent change in Producer Price Index (PPI) for health care services, June 2014 - June 2024

Source: Bureau of Labor Statistics (BLS) & Consumer Price Index (CPI)

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