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

Why it matters locally: Missouri residents, like others across the nation, will likely see some relief in their healthcare costs due to this national decline in prescription drug prices, potentially impacting personal budgets and state healthcare programs.

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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.