business
Increases in prices of physician services outpace general inflation
NEWS IN BRIEF — Posted Aug. 27, 2012
For the second month running, the annual growth in the money paid for physician services by insurers and consumers outpaced inflation in the economy as a whole, according to a report issued Aug. 15 by the U.S. Bureau of Labor Statistics.
The annual rate of overall economic inflation was 1.4% in July, and prices for physician services went up 2.4%. In June, annual inflation was 1.7%, while physician services price growth was 2.2%. The 14-month streak where general price growth was greater than increases in the cost of the services of a physician ended in June.
These trends shifted primarily because of declines in the cost of energy and zero growth in the cost of food eaten at home.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2012/08/27/bibf0827.htm.