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The Independent UK
The Independent UK
National
Ali Swenson

Drug prices have declined sharply, and Trump is taking credit. The reason behind the drop is complex

Drug Prices Explainer - (Copyright 2026 The Associated Press. All rights reserved)

President Donald Trump has been taking credit for new federal data that shows U.S. prescription drug prices fell 0.8% in July and are down 3.1% from a year ago, the steepest year-over-year drop since 1963.

The plunging prices, the White House said, resulted from the Republican president's “most favored nation” drug deals with pharmaceutical firms and the TrumpRx website, which it said are “delivering real relief to American families and putting patients first.”

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