Medical expenses reported by auto injury claimants continue to rise faster than the rate of inflation, in spite of the fact that the severity of the injuries themselves remains on a downward trend. A new study by the Insurance Research Council (IRC) found that from 2007 to 2012, average claimed economic losses (which include expenses for medical care, lost wages and other out-of-pocket expenditures) grew eight percent annualized among personal injury protection (PIP) claimants, reaching $14,207 per claimant in 2012.