What Inflation?

Inflation is a big news story right now. The U.S Department of Labor’s Bureau of Labor Statistics (BLS) just released new data last week—U.S. inflation over the past 12-month period stands at 7.0% (see BLS News Release). But price increases for health care services have been relatively modest—at least so far. They rose about 2.5 percent in the past year (see Health-care costs have escaped massive inflation -- so far). The increase in health care costs ranged from 1.8% from eye care to 4.3% for physician services. Interestingly, the cost . . .