After years of political pressure, insulin prices are finally starting to come down, and as a result, some New Yorkers are paying less at the pharmacy. Federal lawmakers and major insulin manufacturers have recently taken steps to keep patient costs down. A federal price cap on insulin for seniors on Medicare went into effect in January, capping the amount they pay for a 30-day prescription to $35. Similarly, three major insulin makers Novo Nordisk, Eli Lilly and Sanofi have pledged to drastically cut their prices this year. Yet not all…
Read MoreTag: Prices
Measuring inflation can be complicated and bizarre. Here are 3 examples
The consumer price index is a key measure of inflation. The CPI measures how quickly prices change in specific categories of consumer goods and services. Categories like housing, health insurance, and technology have idiosyncrasies that make inflation difficult to measure. Their inflation data may not reflect reality for consumers. Richard Newstead | Moment | Getty Images Housing is perhaps the most important category in the consumer price index, a key barometer of inflation. Housing is the largest expense for the average American family. The “shelter” category that measures costs for…
Read More