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NewsWPLG Local 10 – Main FeedAugust 18, 2026Miami-Dade

Federal data shows 3.1% decline in U.S. prescription drug prices over the past year

Prescription drug prices in the United States fell by 0.8% in July and have decreased by 3.1% compared to the same time last year. This represents the largest year-over-year decline in drug prices recorded since 1963.

prescription drugshealthcare costseconomyfederal policy
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Why It Matters

The cost of prescription medications directly impacts the out-of-pocket expenses for millions of Americans managing chronic or acute health conditions.

Key Facts

  • Prescription drug prices fell 0.8% in July.
  • Prescription drug prices are down 3.1% compared to one year ago.
  • The 3.1% year-over-year drop is the steepest decline recorded since 1963.
  • President Donald Trump has publicly attributed these price changes to his administration's policies.

Who's Mentioned

organizationKFF“Healthcare research nonprofit.”personElizabeth Warren“Democratic Senator questioning the accuracy of TrumpRx savings data.”personJoe Biden“Former President whose administration passed the Inflation Reduction Act.”personRobert F. Kennedy Jr.“Health Secretary questioned regarding TrumpRx savings claims.”organizationLabor Department“Agency that measures the prescription drug price index.”personDonald Trump“President taking credit for the decline in drug prices.”