From April, commonly used medications will cost 12% more

The cost of essential medications is set to increase by 12% which would be the largest yearly price increase ever. The government anticipates raising the costs of 384 drugs and more than 1,000 necessary medication formulations starting on April 1.

Due to a sharp increase in the Wholesale Price Index, the prices of 384 medications and more than 1,000 formulations designated as necessary medicines by the government are expected to experience the highest-ever annual rise of over 12%.

The price of necessary medications will increase by more than 10% for the second year in succession. The price increase for these medications was about 11% last year.

According to representatives of the National Pharmaceutical Pricing Authority, who cited the office of the economic adviser in the minister of commerce and industry, the WPI was 12.12% between January of last year and January of this year. This number has not yet received formal notification, though.