Hospital Prices Spike in February, Drive Price Increases for Services Nationwide

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Healthcare prices jumped 0.7 percent in February, accounting for over 30 percent of the increase in service costs in the Producer Price Index for that month, the Bureau of Labor Statistics reported last week.

Overall the cost of services increased by 0.3 percent during the month, unadjusted for seasonal variations.

Hospitals accounted for much of the increase, with prices growing by .6 percent during the month. Only dentists had a similarly high increase, also at .6 percent. Offices of physicians prices grew 0.4 percent and other areas of healthcare grew much slower or, in the case of medical diagnostic laboratories, saw prices drop.

In February last year hospital prices grew only by 0.1 percent, and over all of 2012 increased 2.2 percent, or less than 0.2 percent per month on average.

Hospital Prices Spike in February, Drive Price Increases for Services Nationwide

Evan J. Albright

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