Medical Care Prices Fell

The only sector of the economy that was becoming more expensive over the years, in July, it reverted its tendency by becoming cheaper. According to the Consumer Price Index Summary published by the United States Department of Labor, consumer prices grew 0.3% in July, whereas the medical care index fell 0.1% during the same month, after 35 years of constant increases.

The following graph was obtained from The New York Times. It shows medical care prices’ clear tendency towards increasing greater than general consumer prices. In the last 63 years medical care prices have only decreased 6 times.