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Health-Insurance Inflation Is Poised to Drop Sharply
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Health insurance has put upward pressure on the main measure of inflation, but is now swinging into reverse. This swing will act as a much-needed, albeit small, drag on inflation currently running at four-decade highs, economists say.
“With the magnitude of each forthcoming Fed hike this year hanging heavily on the latest consumer-price index print, the swing in healthcare insurance’s steady contribution could help provide the ‘compelling evidence’ of inflation slowing on a consistent basis that the FOMC is looking for to ease up on its current pace of tightening,” Sarah House, senior economist at Wells Fargo said in an email, referring to the Federal Open Market Committee.
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