Average cost of prescription drugs doubled in 7 years – AARP

RT reports:

The cost of a year’s worth of prescription drugs, on average, doubled from 2006 to 2013, according to a new report by AARP. The price hikes are hitting senior citizens the hardest because Social Security benefits aren’t keeping up.

The average annual cost of prescription drugs widely used by the elderly increased from $5,571 in 2006 to $11,341 in 2013, according to the latest study on drug price trends conducted by AARP, a powerful lobbying group for older Americans. That accounts for about three-quarters of average Social Security payments, and 48 percent of the median income of people who receive Medicare benefits, according to the Kaiser Family Foundation.

Just a reminder, the next time the government tells you there's no inflation. The Austrian economists were right: inflation means an increase in the money supply.