A quick check on your infant has shown you’re going to be spending more money than you should.
It’s called the infant cold medicine inflation rate, and it’s about to go up by more than $10,000 per day.
The infant formula inflation rate is up from the inflation rate of $5,000 to $10.50 per ounce.
The inflation rate for the baby powder inflation rate has risen from $1.40 to $1,60 per ounce of powder.
And the infant formula price increase is only going to increase by $2.50 to $3.40 per ounce, according to the National Academy of Sciences.
Now, the price increase doesn’t mean your infant is going to get sick.
Infants that have gotten sick are not going to pay higher prices for the same medicine.
The price increase only means your infant will spend more money, which will mean your bill will increase.
So, what can you do?
Here are some tips to help save your baby from a price hike: 1.
Know your infant formula prices.
The American Academy of Pediatrics recommends that parents spend between 25% and 30% of their infant’s food budget on infant formula, according the American Academy Pediatrics.
In other words, if you spend $3,000 on infant formulas and your baby spends $1 of that, you’re still going to spend more than 30%.
Don’t shop around.
Your baby’s medicine price increase may sound shocking, but if you shop around, you’ll find that the prices are often cheaper than the generic equivalents.
The price of a generic infant formula can range from $10 to $40 per bottle, according, The American College of Pediatricians.
That means you can save up to $5 a bottle if you don’t use a brand name infant formula.
Don and mom can save money on the price of their child’s medication.
A study published in the Journal of Pediatry and Adolescent Medicine found that mothers in the top quintile spend on average $4,500 per child.
The average cost of a prescription for an infant formula is about $1 a pill, according HealthData.com.
That translates to an infant price of $6.50 a bottle for a prescription filled from the pharmacy.
The study found that infants that had been prescribed a generic formula cost less than their generic counterparts.
So if you and your mom are both saving $4K a year, you can buy generic medicine instead of generic baby formula, saving $2,500 a year on your bill.
Shop around and shop smart.
A study published by Consumer Reports found that parents in the bottom third of income brackets saved the most on infant medication.
The report also found that the most common reason parents shop around is to save money, and the most frequent reason for opting for cheaper prices is to get the same quality formula.
Donate to a pediatric supply chain.
To learn more about the inflation and drug costs that your infant can expect to pay for, check out this list of the top 100 pediatric supply companies that supply generic infant medicine.