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

Why it matters locally: Hoosiers across Indiana are likely to see some relief in their healthcare costs, as the nationwide decline in prescription drug prices directly impacts consumer spending on 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.