Pharmaceutical CPI growth due to Australian government policy
The Australian Consumer Price Index (CPI) for the March quarter has shown growth in pharmaceutical prices due to the normal mechanics of the Pharmaceutical Benefits Scheme (PBS) safety net.
Medicines Australia chief executive, Brendan Shaw, said today’s figures showing consumer pharmaceutical price growth should be considered in the context of the December 2013 CPI, when pharmaceutical prices fell 1.6%.
“The fall of the pharmaceutical price index throughout the year to December 2013 quarter was largely due to patients reaching the PBS safety net threshold and paying either a reduced co-payment in the case of general patients, or no co-payment in the case of concession card holders,” Dr Shaw said.
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