The Bureau of Labor Statistics released new inflation numbers today.
Turns out consumer goods are about 1.5 percent more expensive today than they were last fall.
It’s the usual culprits — gas, housing. But deep among the data was a figure which grabbed our attention.
Prescription drugs have gone up 7 percent since last year — the highest annual increase since 1992.
It's an historic price spike, but health policy people aren’t exactly sure what’s behind it.
Yale economist Fiona Scott Morton said a new class of powerful drugs — sometimes called biologics — could be helping fuel costs.
These are treatments for conditions like MS and rheumatoid arthritis and “autoimmune disease, cancer drugs, and they are often quite expensive $100k, $200k a year,” she said.
Scott Morton said manufacturers have been aggressively raising their prices on these potent drugs, sometimes by double digits.
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