Drug prices were five times greater in 2021 than in 1984, according to data collected by the Bureau of Labor Statistics (BLS). The rise was three times greater than the rate of inflation for all other goods. If a medication was priced at $100 in 1984, it would cost more than $500 for a drug used to treat the same condition in 2021.[1]
The analysis is based on the producer price index, a BLS measure of how much a producer charges for a good. It’s one of the statistics used by the government to show how inflation affects prices over time. This is different from the consumer price index, which is based on how much consumers pay for a good. The index includes prescription and non-prescription drugs produced in the US.
