Medical Costs Are In Orbit, Right? Well, Maybe

If inflation is losing steam, it's not yet apparent in the cost of health care services. In the 12 months ending in February, the cost of medical care services, as reflected in the consumer price index, was up a hefty 9.9%. At last count, however, another yardstick of health care inflation--the personal-consumption-expenditures (PCE) deflator for medical services--was up only 5.9% over its year-earlier level.

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