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Core Consumer Prices Jump Most Since March 2006 Thanks To Surging Healthcare Costs
The market appears to have chosen the hotter-than-expected Core CPI print (as opposed to weakest headline CPI YoY print since Oct 2009 of -0.2%) as key. Core CPI rose 0.3% MoM in April - the most since March 2006; and 1.8% YoY - the most since Jan 2013. The biggest driver of the surge in consumer prices is medical care costs - which rose 0.7% - the biggest increase since January 2007 (thanks Obamacare).
Overall CPI is the lowest since Oct 2009...
But Core CPI is surging...
The Core CPI breakdown...
The index for all items less food and energy increased 0.3 percent in April, its largest increase since January 2013. The shelter index increased 0.3 percent, the same increase as in March. The indexes for rent, owners' equivalent rent, and lodging away from home all rose 0.3 percent. The medical care index rose 0.7 percent, its largest increase since January 2007. The index for medical care services rose 0.9 percent with the hospital services index rising 1.9 percent. The index for household furnishings and operations rose 0.5 percent, its largest increase since September 2008. The index for used cars and trucks increased 0.6 percent, and the new vehicles index rose 0.1 percent. The indexes for alcoholic beverages and for tobacco were both unchanged in April. The apparel index declined for the first time since December, falling 0.3 percent. The index for airline fares continued to decline, falling 1.3 percent after a 1.7-percent decline in March.
The index for all items less food and energy has risen 1.8 percent over the past 12 months, the same increase as for the 12 months ending March. This is slightly below its 1.9-percent annualized increase over the past 10 years. The shelter index has risen 3.0 percent over the last year, and the medical care index has advanced 2.9 percent. The index for airline fares fell 7.5 percent over the last year, and the indexes for apparel and for used cars and trucks have also declined.
As Medical Care Costs soared... 0.005% shy of the biggest MoM increase in healthcare costs in 21 years!
Thanks Obamacare
Charts: Bloomberg
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obamacare price controls in progress.
actually, just getting going.
Thank goodness for "affordable" heathcare.
I just knew we should have read that bill.
Time to eat your peas bitchez!
Watch for a surge in the popularity of alternative medicine
The fucking AMA.. Another elitist group of blood suckers..
The Un-Affordable Care Act
You have to pass it so you can know what is in it.
"Thanks To Surging Healthcare Costs"
Thanks to surging Obamacare Costs, there fixed it.
Many people would read the title and say thank God for Obamacare and helping us control thos mean doctors and hospitals for their high charges. I say lay the blame where it belongs, Obamacare. I'm still waiting to see the $2,500 check for the money I was told I was going to save. Sarcasm
This is true of burritos too.
Soon the only people who will be able to afford healthcare will be the illegal invaders that Obama lets in.
http://www.wsj.com/articles/health-insurers-seek-hefty-rate-boosts-14322...
Just another incentive for the Boyz in London and New York to further open the gold pipeline spigots to China. Why are they giving away all the world's gold to China?
https://www.youtube.com/watch?v=Mr_uHJPUlO8
You can't compete with insanity, stop trying too.
Alternative medicine will increase in popularity as traditional services and drugs subsidies will decrease so people will look at spending dollar for dollar somewhere else. Heck humans have been using natural herbs and other stuff from the earth for thousands of years for many things with much success. Sure there are still things you need from the medical complex but most ailments and such can be dealt with cheaper with less side effects using natural approaches.
Consume some aspergillus to shorten the length of your next ailment.
We'll just have to pass it to find out what's in it...Nancy Pelosi - CUNT!
Free healthcare has no inflaton. That inflation is also passed on to those that pay for theirs and the others. Equality is a hydra (a many-headed serpent or monster in Greek mythology that was slain by Hercules and each head of which when cut off was replaced by two others).
Mr. Krugman, is that you???
Agree!
Health Insurance = Price Supports
Obamacare = New Layer of Price Supports
OK, is this bullish or what? I no longer know.
DavidC
Not for gold.
Inflation too low = sell paper gold in NYC, home of the tribe.
Inflation too high = sell gold in NYC also by the tribe.
Those are 'the rulz.'
Probably means a higher GDP print due to healthcare expenditures
Pretty soon they will need to take healthcare out of core just like food and fuel. Too unplesant to include.
Lies, damn lies and gov't statistics
Another hammer in the Fed's tool bag found.
"My witch doctor is expensive but he's worth every penny."
https://www.youtube.com/watch?v=cmjrTcYMqBM
One way or another, the bankers and financiers will get you to spend "money" that you don't have.
With the promise that you will have plenty of money to pay back in the future.
I can't wait to see Liesman get a used condom shoved down his throat when the Fed. doesn't raise rates. That clown is just grasping at straws.
He looked especially bloated and red faced today. Probably too much Johnny Walker at Bernankes basement strip-poker parties.
I just spent $30 bucks for an air filter for my chain saw. I can't go eat at a reasonable priced restaurant anymore for less than $35. A fucking salad is $15. My property taxes went up. I could keep adding to the list and none of it has to do with Obama Care.
Don't get me going on the obscene prices for a draft beer!
My favorite ale went from $5 a pint to $6 in a year.. a 20% increase in just one year!?
I'm back to drinking Bud bottles.. and not that Bud Light shit either.
Price of frozen vegetables soared while packaging decreased in volume from 16oz to 14oz then down to 12oz.
Soon, they'be selling one string bean, one piece of carrot, a couple of green peas, etc instead of by the oz!
I'm glad we're going cashless. I can't afford reality anymore.
Uh, look at the healthcare costs trend line. It's clearly going DOWN since 2007. Nice to see Tyler read a chart.
It's all about the red meat on ZH.
It's clearly going DOWN since 2007
So is unemployment. When it hits zero, 300 million people won't have a job.
So you don't understand how to read charts? Maybe you should sit the next few plays out champ.
Love it when you guys talk tough.
P.S. Its the chart in red.
Hey fuck stain, before you cast stones, look at the charts again and see what they actually show. Then get back to us skippy. Go to MSNBC.com where you belong.
In the land of make-believe. Who takes anything that comes out of .gov seriously anymore? I'm not saying the number is higher or lower, just that there is no point in analyzing anything that comes out of their mouths.
Haha, cable (gbp/usd )just shit the bed. It gave up all the retail sales gains and then some.
I love these imaginary numbers.
Food at home: 1.3 YoY.
Funny, my actual recordings for groceries: 8.7%.
FU, DotGov!
Eat your ramen.
The most expensive aspect of Obamacare haven't even been implemented yet.
Well that certainly is great news.
The new excuss to not raise rates will be lack of wage growth. The only real figure they cared about anyway. As long as wage growth remains low, they will not raise rates.
They put bank robbers in prison. The government lets MDs and hospitals do WORSE, MUCH WORSE. The ROBBERY of patients is bad enough but the SHODDY care is insult to injury.
The members of the "Health Care Profession" with RARE exceptions have no SOULS and are NOT human. Their only god, besides themselves, is the $.
As an aside nearly 250,000 Americans lose their lives due to medical errors each year.
I kind of agree. Get out of the corporate, "non-profit" healthcare system.
I have an independent doc, I use independent labs, and I simply don't feed those beasts. My all in healthcare costs run about 1500 a year- and this year I will add another 750 in Obamacare shared responsibility, socialism costs. (fine) At 2200 a yr.- still far cheaper than buying a fucked up silver plan for 500 a mo. w a 2k deductible.
When I grow up I'm going to be a medical technician.
Major insurers in some states are proposing hefty rate boosts for plans sold under the federal health law, setting the stage for an intense debate this summer over the law’s impact. In New Mexico, market leader Health Care Service Corp. is asking for an average jump of 51.6% in premiums for 2016. The biggest insurer in Tennessee, BlueCross BlueShield of Tennessee, has requested an average 36.3% increase. In Maryland, market leader CareFirst BlueCross BlueShield wants to raise rates 30.4% across its products. Moda Health, the largest insurer on the Oregon health exchange, seeks an average boost of around 25%.
http://www.wsj.com/articles/health-insurers-seek-hefty-rate-boosts-14322...
Premiums skyrocketing, copays skyrocketing, and...your annual deductable is....skyrocketing.
Obamacare and the health care insurance companies that are riding under the coat tails of Medicare have resulted in the turbocharging of wealth transfer from the middle class to the corporate elites (collecting insurance premiums but not delivery of health care).
Some of the jackals that have come to get their share of the spoils include medical software companies and the legions of useless electronic medical records (EMR)/electronic hospital records (EHR) trainers that have to "train" us physicians how to use this useless crap -which would never stand on its own in a regular free market.
These software companies write POS software programs because they know we have to buy this crap and they don't have to really write good software.
Health care will wind up costing more than food or housing. The perfect instrument by the government and their corporate accomplices to steal what savings or income the middle class have left.
Prior to the passage of Obamacare, my...ahem..union received "Cadillac" health insurance paid for 85% by the company. Our contribution was marginal. We had $15 copays, $20 specialist copays, and $500 annual deductables, for around $120/month(Single no dependents).
Ever since the passage of The Affordable Care Act, copays are $20, specialists are $40, the annual deductable is now $2500(which is still magnificent!), and premiums are rising 8%y/y for the next four years.
And EVERYONE bitches about it, but they support the individuals that implemented it. It drives me bonkers.