Inflation Growth is Slowing, but Medical Trend May Rise in Coming Years
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Apr 14, 2023
While there are signs that ultra-high inflation rates are retreating, health care cost pressures are likely to stick around for some time and have a major impact on payers, industry experts say.
The Bureau of Labor Statistics (BLS) reported on April 12 that the consumer price index (CPI) rose by 5% in March from a year earlier, the smallest increase since May 2021 and the ninth consecutive month that annual inflation has declined. Meanwhile, the CPI for medical care services increased by just 1% year-over-year, including a 0.5% increase in physicians’ services and a 2.7% increase in hospital services.
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