A bit of news you might have missed in the chaos of the week between Christmas and the New Year was this report from Reuters, which states that drugmakers are set to raise the prices of more than five hundred medications this month.
Even though inflation is rising at a slower rate than it was at the beginning of Biden’s presidency, the cost of pharmaceuticals is still increasing (again). 3 Axis Advisors, the ones who identified that drug prices are again going up, points to median drug price increases of about 5 percent per year since 2019.
However, when you look at a chart of the U.S. inflation rate and set it to the last 5 years, you will see inflation has generally been a lot lower since 2019 than 5 percent. The long-term inflation rate in the US is about 3.3 percent– and that 3.3 percent is still higher than the current inflation rate. So there have still been plenty of…
