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

Why it matters locally: Virginia residents are likely to benefit from the reported decline in U.S. prescription drug prices, which could reduce healthcare costs across the Commonwealth.

---

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.