Essential medicines set for a highest ever price rise of 12% this year

Prices of 900 formulations are expected to increase to reflect annual change in WPI

Prices of essential medicines, including those to treat heart conditions and diabetes, could increase by more than 10 per cent in 2023 to mark a second year of rise and the highest ever.

In line with the annual change in the wholesale price index (WPI) in 2022, the government is set to allow a 12.2 per cent increase in prices of drugs under the National List of Essential Medicines (NLEM).

“Based on the wholesale price index (WPI) data provided by the Office of the Economic Advisor, Department of Industry and Internal Trade, Ministry of Commerce and Industry, the annual change