business
Medical inflation starts to soften
NEWS IN BRIEF — Posted Feb. 28, 2011
Inflation in health care was lower in December 2010 and January than for the economy as a whole, reversing a 2010 trend, according to a monthly report on the consumer price index issued Feb. 17 by the U.S. Bureau of Labor Statistics.
The consumer price index grew 0.4% in December 2010 and January. Inflation for the past year was 1.6%. Growth in the cost of medical care was higher for the past year but low for the previous two months. Medical care inflation was 0.1% in January and 0.2% in December 2010. The annual inflation rate for medical care was 2.9%.
The inflation rate for professional services, a category that includes physicians, did not grow in January but increased 0.1% in December 2010. Inflation in the category was 2.3% in 2010.
Annual inflation for the cost of hospital and related services was higher than the general rate in 2010, but it declined in January. The inflation rate for this category increased 6.3% during the past year but decreased 0.1% in January.
The latest consumer price index report is online: (link).
Note: This item originally appeared at http://www.ama-assn.org/amednews/2011/02/28/bibf0228.htm.
