One reason U.S. inflation is still high: Increases in prices for procedures to prop open clogged arteries, provide intensive care for newborns and biopsy breasts.
Hospitals didn’t raise prices as early in the pandemic as supermarkets, retailers and restaurants. But they have been making up ground since then. Their increases have contributed to stubbornly high inflation readings from the consumer-price index, which in April increased 3.4% from a year ago.
Hospital prices specifically jumped 7.7% last month from a year ago, the highest increase in any month since October 2010, the Labor Department said Wednesday.
Among the procedures with hefty recent price increases are angioplasties placing stents in arteries to improve blood flow, which grew $670, or 4.5%, to $15,640 in the first three months of the year from the same period a year ago, according to Turquoise Health.
Surging Hospital Prices Are Helping Keep Inflation High https://t.co/en50uqXMV4
— Edward Marx (@marxtango) May 17, 2024