Hospital consumer prices spiked 1.9% in August, the largest one-month increase since the Bureau of Labor Statistics first collected the data 16 years ago.
The sharp increase this year reflects the rate increases hospitals received in July from commercial insurers, said Daniel Ginsburg, a supervisory economist with the Bureau of Labor Statistics. The agency's Consumer Price Index does not include rates that hospitals receive from Medicaid or Medicare Part A.
Fewer hospitals responded to the August rate survey, which also affected the numbers because the agency uses survey responses to estimate rates for those that did not respond, Ginsburg said. By October, the BLS should have more data from hospitals not included in the August survey for a clearer picture of rates.
The 1.9% increase was seen in both inpatient and outpatient services.
In August 2012, the consumer prices for hospital services dropped 0.2%. For the year that ended in August 2013, prices increased 5.7%, compared with 4.7% the prior year.
Physician services, meanwhile, were flat in August after falling 0.2% in July. In August 2012, physician consumer prices increased 0.3%.
For the year that ended in August, physician consumer prices increased 1.5%, compared with 2.5% the prior year.
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