President Donald Trump is taking credit for the precipitous drop in prescription drug prices in an appeal to voters concerned about healthcare affordability ahead of November’s midterm elections.
Prescription drug prices fell by 0.8% in July and are down 3.1% from last year, the steepest annual decline in more than 60 years, according to the most recent Consumer Price Index report. The 12-month decline lines up with the Trump administration’s efforts to pursue its “most favored nation” drug pricing deals to, under threat of tariffs, negotiate with pharmaceutical companies to get Americans the lowest prices on their prescriptions.
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