Increase in Drug Prices Accelerating

AARP is releasing their latest RxPrice Watch report today. The big news won’t be that prices are going up (everyone knows that), rather, it will be just how quickly they’re going up. According to Federal Government Bureau of Labor Statistics statistics, inflation increased prices by 16.63% from 2006 through 2012. During that same period, an average bundle of prescription drugs for senior citizens increased 103.57%. In other words, the price of prescription drugs increased more than six times faster than inflation, and that same rate continued in 2013. As of this writing, the report isn’t out, but you should be able to google for it later today. In the meantime, you can get some additional analysis from this AP article.

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