Other Medical Products Expenditures Price Index
This dataset tracks other medical products expenditures price index over time.
Latest Value
96.64
Year-over-Year Change
-4.90%
Date Range
1/1/2000 - 1/1/2021
Summary
The Other Medical Products Expenditures Price Index measures the inflation of prices for medical products and supplies, excluding prescription drugs and medical services. This index is an important indicator for healthcare spending and cost-of-living trends.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Other Medical Products Expenditures Price Index is a component of the Personal Consumption Expenditures (PCE) price index, which is the Federal Reserve's preferred measure of inflation. This index tracks the prices paid by consumers for a variety of medical products, such as bandages, syringes, and hearing aids.
Methodology
The index is calculated based on surveys of consumer expenditures and prices collected by the Bureau of Economic Analysis.
Historical Context
Policymakers and economists monitor this index to assess overall healthcare cost pressures and their impact on consumer spending and the broader economy.
Key Facts
- The index has a base year of 2012.
- Prices for other medical products have risen 17% since 2012.
- This index accounts for about 5% of total personal healthcare expenditures.
FAQs
Q: What does this economic trend measure?
A: The Other Medical Products Expenditures Price Index measures the inflation of prices for a variety of medical products and supplies, excluding prescription drugs and medical services.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator for healthcare spending and cost-of-living trends, as it tracks prices paid by consumers for a range of medical products.
Q: How is this data collected or calculated?
A: The index is calculated based on surveys of consumer expenditures and prices collected by the Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this index to assess overall healthcare cost pressures and their impact on consumer spending and the broader economy.
Q: Are there update delays or limitations?
A: The index is updated monthly, with a typical publication delay of around one month.
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Citation
U.S. Federal Reserve, Other Medical Products Expenditures Price Index (OTMEPRPIHCSA), retrieved from FRED.