Prescription Drug Prices Down 4.5% Over the Past Year, Largest Annual Drop in BLS Data Since 1963

November 3, 2026

Prescription drug prices fell 4.5 percent from September 2025 to September 2026, according to the Bureau of Labor Statistics consumer price index for prescription drugs, the largest year-over-year decline in that index since at least 1963. Over the same period overall consumer prices rose 3.7 percent and nonprescription drug prices fell 0.9 percent. The prescription drug index has fallen or held essentially flat every month of 2026.

The White House highlighted the figures on November 3, 2026, quoting a City Journal article by Dr. Joel Zinberg. The article credits Trump administration policies, including TrumpRx, launched in February 2026 with cash-price discounts on more than 800 drugs, and agreements with Eli Lilly and Novo Nordisk on GLP-1 medications, with helping push prices down. That attribution is the article’s and the White House’s view; the BLS data shows the price drop, not its cause.

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