Business Report: "Hidden" cost inflation

Business Report: "Hidden" cost inflation

HONOLULU (HawaiiNewsNow) - Inflation stories nearly always compare an apple last year to an apple now. But enough about computers.

Here are examples of spending changing in ways that create more inflation than we're being told.

Twenty years ago the telecoms bills were your landline phone bill and the bill for basic cable. Now everyone in the house has a smartphone and the cable bill has all sorts of add-ons. You get more things but the cost is more.

Everything you've ever read about college tuition increases is a lie, because colleges have made it harder to get a four-year degree in four years, and most students take five. So that's 20% more, on top of whatever they say is the increase.

The average $300 coverage in 2006 now costs more than $1,000, driven by miracle drugs, miracle machines, and the uninsured, whose ER bills were quietly shifted to your own premiums. You're bearing more of the cost yourself, though co-pays.

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