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Critical drugs are seeing price increases of 10% to 20% — several times the inflation rate. WESTOCK PRODUCTIONS / Shutterstock.com
The nation’s annual inflation rate had settled to 3.4% by the end of 2023. But many prescription drugs still saw much larger price hikes in January 2024. This isn’t the first time drug manufacturers have significantly outpaced the inflation rate. Between January 2022 and January 2023, prices increased for more than 4,200 drug products, according to federal data. Nearly half (46%
