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

Why it matters locally: Colorado residents, like those nationwide, will likely benefit from the observed decline in U.S. prescription drug prices. This could alleviate some financial burden for individuals and families across the state, including those served by agencies like Denver Health Medical and CommonSpirit St. Anthony Hospital.

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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.