What do two divergent inflation readings have to do with a blockbuster health-care deal?
Quite a lot, actually.
Then, there is the gap between the two leading U.S. core inflation readings, which recently hit a six-year high.
The Federal Reserve's preferred gauge was up just 1.2 percent in April from a year earlier—just off its historical lows. Meantime, the more widely followed core consumer price index jumped 1.8 percent during the period.
A key reason for this gap is the price of medical care—and Medicare payments are a big chunk of that.