Rising care costs Nationally, drug prices increased 3.3 percent just during the first quarter of this year, putting the market on pace to increase more than 10 percent for the year. (Photo: Shutterstock)

Twenty drug companies announced price hikes for around 40 different medications last week. The average price increase for those drugs was 13.1 percent, according to Rx Savings.

Many of the affected drugs are in high demand from hospitals, which have been under increasing pressure to deal with drug shortages.

In apparent response to a political backlash in recent years against major price increases, some pharma companies have vowed to increase prices gradually, at no more than 10 percent per year. Even 10 percent per year, however, far outpaces inflation or wage growth.

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