Tag: Inflation

CPI rose while medical care commodities and medical services fell from Jan to Feb

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general_inflation_2015_02The consumer price index (CPI) went up from 234.677 in January 2015 to 235.186 in February 2015, an annualized rate of 2.60%.

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The price index for medical care commodities went down at an annualized rate of 0.06% from January 2015 to February 2015. During the same period, the price index decreased for medical care services (2.31%), hospital and related services (2.32%), and professional services (1.86%).

Source: BLS

Image source: http://www.shutterstock.com/pic-54762670/stock-photo-background-concept-illustration-consumer-price-index.html

CPI falls faster than medical care commodities while medical services rise from Dec to Jan

cpi

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The consumer price index (CPI) went down from 236.284 in December 2014 to 234.677 in January 2015, an annualized rate of 8.16%.

medical_commodities_2015_1medical_services_2015_1

The price index for medical care commodities went down at an annualized rate of 3.37% from December 2014 to January 2015. During the same period, the price index increased for medical care services (0.98%), hospital and related services (0.59%), and professional services (2.09%).

Source: BLS

Image source: http://www.shutterstock.com/pic-54762670/stock-photo-background-concept-illustration-consumer-price-index.html

Medical care commodities inflate more than general inflation from Oct to Nov

cpi

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The consumer price index (CPI) went down from 37.909 in October 2014 to 237.428 in November 2014, an annualized rate of 3.08%.

 

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The price index for medical care commodities went up at an annualized rate of 7.33% from October 2014 to November 2014. During the same period, the price index also increased for medical care services (4.78%), hospital and related services (2.98%), and professional services (6.05%).

Source: BLS

Image source: http://www.shutterstock.com/pic-54762670/stock-photo-background-concept-illustration-consumer-price-index.html

Medical care commodities inflate at a lower rate than general inflation from July to August

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The consumer price index (CPI) went down from 37.909 in July 2014 to 237.428 in August 2014, an annualized rate of 1.79%.

medical_commodities_2014_08medical_services_2014_08

The price index for medical care commodities went up at an annualized rate of 1.45% from July 2014 to August 2014. During the same period, the price index for hospital and related services went up at an annualized rate of 1.32%, whereas medical care services and professional services went down at an annualized rate of 0.46% and 3.04%, respectively.

Source: BLS

Image source: http://www.shutterstock.com/pic-54762670/stock-photo-background-concept-illustration-consumer-price-index.html

Medical care commodities inflate at a higher rate than general inflation from June 2014 to July 2014

cpigeneral_inflation_2014_07             The consumer price index (CPI) went up from 237.693 in June 2014 to 237.909 in July 2014, an annualized rate of 1.09%. medical_commodities_2014_07 medical_services_2014_07 The price index for medical care commodities went up at an annualized rate of 3.99% from June 2014 to July 2014. During the same period, the price index for medical care services and hospital and related services went up at an annualized rate of 1.44% and 5.01%, respectively, whereas professional services went down at an annualized rate of 0.59%. Image source: http://www.shutterstock.com/pic-54762670/stock-photo-background-concept-illustration-consumer-price-index.html

Medical Care Commodities Inflate at a Higher Rate than General Inflation from May 2014 to June 2014

cpigeneral_inflation_2014_06The consumer price index (CPI) went up from 37.083 in May 2014 to 237.693 in June 2014, an annualized rate of 3.09%.

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The price index for medical care commodities went up at an annualized rate of 8.36% from May 2014 to June 2014. During the same period, the price index for medical care services and professional services went down at an annualized rate of 0.16% and 1.31%, respectively, whereas hospital and related services went up at 2.06%.

Image source: http://www.shutterstock.com/pic-54762670/stock-photo-background-concept-illustration-consumer-price-index.html

Inflation is simply nowhere to be found in the U.S. economy

The latest data from the BLS further confirms the low level of inflation in the U.S.  A number of notable items that make up a large percentage of the CPI actually declined in 2013.  Motor fuel (which has a weight of 5.68 out of 100) in the CPI declined 1.0%, Household furnishings (3.2) fell 2.2%.  Medical equipment, non prescription drug prices, and recreational supplies (like sporting goods).  The average price of DVDs fell nearly 10% last year.

 

Economist, Justin Wolfers provides a light, but informative closer look at the recent CPI numbers and cookie versus cupcake inflation: