A CMS study on 2005 U.S. health care spending was published today in Health Affairs. The abstract explains that

In 2005, U.S. health care spending increased 6.9 percent to almost $2.0 trillion, or $6,697 per person. The health care portion of gross domestic product (GDP) was 16.0 percent, slightly higher than the 15.9 percent share in 2004. This third consecutive year of slower health spending growth was largely driven by prescription drug expenditures [greater use of generic drugs]. Spending for hospital and physician and clinical services grew at similar rates as they did in 2004.

In contrast, the U.S. consumer price index (urban) increased 3.15% from December 2004 to December 2005. AHIP issued a press release on the study.