Prescription Drug Prices Post Sharpest Decline in More Than 60 Years
By Steve Thompson, Federica Cocco and Christopher Rowland | The Washington Post
While overall medical costs continued to rise, prescription drug prices fell by 3.1 percent in the year ending in July, the steepest annual decline since 1963.
Prescription drug prices recorded the biggest year-over-year drop in more than 60 years in July, a startling reduction experts chalked up to an array of factors, including more generics and discount GLP-1 weight-loss drugs.
While overall costs for medical services continued to rise, prices for medicinal drugs fell 2.7 percent over the 12 months ending in July, the largest annual drop on record, according to Bureau of Labor Statistics data released Wednesday. Prescription drugs, part of the medicinal drug category, fell by 3.1 perce...