Posted by Michael Wonder on 05 Nov 2019
Prescription drug prices are falling at historic levels thanks to Trump Administration policies
5 November 2019 - While the media continues to claim prescription drug prices are rising, a recent Council of Economic Advisers (CEA) paper shows the opposite: Under President Trump, prescription drug prices are decreasing at rates not seen since the 1960s.
In the eight years prior to President Trump’s inauguration, prescription drug prices increased by an average of 3.6 percent per year. Fast forward to today, and prescription drug prices have seen year-over-year declines in nine of the last ten months, with a 1.1% drop as of the most recent month.
In June 2019, the United States saw the largest single-year drop (2.0% year-over-year decline) in prescription drug prices since 1967.
