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

Why it matters locally: Oklahomans will likely experience direct benefits from the reported decline in U.S. prescription drug prices, potentially leading to reduced healthcare costs for individuals and families across the state.

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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.