Pharmaceutical Products (Without Prescription Drugs) Expenditures Price Index
PHPRDRPIHCSA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
98.42
Year-over-Year Change
-4.36%
Date Range
1/1/2000 - 1/1/2021
Summary
The Pharmaceutical Products (Without Prescription Drugs) Expenditures Price Index measures the price changes of pharmaceutical products excluding prescription drugs in the U.S. healthcare sector. This metric is a key indicator of inflationary trends in the pharmaceutical industry.
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
This index tracks the overall price changes for pharmaceutical products that are not classified as prescription drugs, such as over-the-counter medications, medical supplies, and other healthcare-related items. It provides insights into the pricing dynamics of the broader pharmaceutical market beyond just prescription drug costs.
Methodology
The data is collected through surveys of healthcare providers and suppliers by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and economists use this index to assess the state of pharmaceutical inflation and its potential impact on healthcare costs and consumer spending.
Key Facts
- The index has a base year of 2012 = 100.
- Prices of pharmaceutical products excluding prescriptions have risen 21% since 2012.
- This index is a component of the broader Personal Consumption Expenditures (PCE) price index.
FAQs
Q: What does this economic trend measure?
A: The Pharmaceutical Products (Without Prescription Drugs) Expenditures Price Index measures the price changes of pharmaceutical products excluding prescription drugs in the U.S. healthcare sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the pricing dynamics of the broader pharmaceutical market beyond just prescription drug costs, which is relevant for understanding healthcare inflation and consumer spending.
Q: How is this data collected or calculated?
A: The data is collected through surveys of healthcare providers and suppliers by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to assess the state of pharmaceutical inflation and its potential impact on healthcare costs and consumer spending.
Q: Are there update delays or limitations?
A: The index is published monthly with a typical release lag of 1-2 months.
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Citation
U.S. Federal Reserve, Pharmaceutical Products (Without Prescription Drugs) Expenditures Price Index (PHPRDRPIHCSA), retrieved from FRED.