The large year-over-year increase in medical care for the elderly is altering the lifestyle for this vulnerable segment of the U.S. population
Radnor, PA (PRWEB) June 03, 2015
April 2015 Release: Rappaport Retirement Index, RRI
Consumers 62 years and older experienced benign but increased inflationary pressures increases on both the month-over-month and year-over-year figures.
For 2013 the RRI YOY registered a 1.62 percent increase in prices for consumers age 62 and older.
For 2014 the RRI YOY dipped to 1.32 percent with the average YOY ending at 1.8%.
For April, 2015 the RRI increased a scant .24% which was a drop form last month’s increase.
Year-Over-Year data also dropped to .41%.
Another month-over-month increase in Transportation and a large increase in costs for Medical Care were offset by benign inflation data recorded in other goods and services.
“The year-over-year data showed some more interesting trends. Inflation data saw large increases in the Food and Beverage Category and Housing costs as rents have increased," said H Craig Rappaport, creator of the Rappaport Retirement Index and President of Rappaport Wealth Management. "Medical Care costs continue to increase at a faster clip than all other categories. The overall year-over-year index was held down by a huge drop in the Transportation category which is down better than 8% due to the drop in oil prices. We have seen that reverse somewhat so we expect, with oil prices ticking 2015 highs, to see the increases in the RRI accelerate.”
The Rappaport Retirement Index is a new inflation index for retirees released monthly to provide better financial planning replaces the CPI-U (Urban) as the main inflation tool.
Retirement Specialist and Accredited Wealth Management Advisor H Craig Rappaport, using statistical data and guidance provided by the Bureau of Labor and Statistics, releases the Rappaport Retirement Index.
For several decades, the baby boom generation has been preparing for retirement. The Rappaport Retirement Index is the first inflation index for financial planners, retirees and soon-to-be retirees needing to know how to plan and invest to create and accurately calculate their retirement income needs.
H Craig Rappaport, the author of Live Long Live Rich -Creating Your Retirement Paycheck and President of Rappaport Wealth Management, is available for interviews Specializing in retirement, Rappaport has appeared in the Wall Street Journal, Fox News, CNN Headline News, Bloomberg, The Dow Jones News Service as well as many television shows, magazines, newspapers and can be heard on the radio daily.
For questions or interviews: 1-610-293-8005 or at Craig(at)rappaportwealth(dot)com