U.S. Prescription Drug Prices Decline, Federal Data Shows

Why it matters locally: The decline in U.S. prescription drug prices could positively impact South Carolina residents by potentially reducing healthcare costs, particularly for the state's significant elderly population who often rely on multiple medications.

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New federal data indicates a decline in U.S. prescription drug prices. In July, prices decreased by 0.8%. Overall, prices have fallen 3.1% over the past year. This annual reduction represents the steepest year-over-year drop recorded since 1963.