New York agency approves 7% hike in health insurance premiums for 2016

Crain's New York reports:

If you buy health insurance through the state's insurance exchange, expect to pay more next year.

New York's top insurance regulator announced ​that premiums for individuals buying health insurance in the New York State of Health marketplace will rise 7.09% on average when open enrollment begins Nov. 1. Insurers had requested an average increase of 10.4%, but rates must be approved by the Department of Financial Services.

Yet, Paul Krugman tells us there is no inflation.