The United States has experienced the largest decline in prescription drug costs in 60 years.
Posted by Speaker Mike Johnson, Checked
- Sources
- 3 support3 context
- Said
- 1 time·
- Confidence
- 85%
Speaker Mike Johnson@SpeakerJohnsonOct 25, 2026Multiple tier1/tier2 sources, including BLS CPI data as reported by FactCheck.org and the Washington Post, confirm prescription drug prices fell 3.1% year over year in July 2026, the steepest annual decline since 1963, which is the largest one-year drop in over 60 years.
What was said
… We cut massive Biden era regulations. We got the economy going again. We have Trump accounts for newborns, the first ever nationwide school choice program. We have the lowest violent crime in 126 years. Biggest decline in prescription drug cost in 60 years. We got back to American energy dominance and peace through strength. A million jobs added in the private sector alone in the last 19 months. It goes on and on and on. …
Speaker Mike Johnson@SpeakerJohnson · · from the transcriptPost →What we found
Supports. FactCheck.org reports that prescription drug prices fell 3.1% over the past year in the BLS Consumer Price Index, which it calls the largest one-year price decline in decades.[1]
Supports. The Washington Post reports prescription drug prices fell 3.1% in the year ending July 2026, the steepest annual decline since 1963, which it describes as the biggest year-over-year drop in more than 60 years.[4]
Supports. AP reports 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.[2]
Context. Experts attribute the decline to multiple factors, including the Biden-era Medicare negotiation law, generics and biosimilars, and GLP-1 price competition, rather than solely to Trump administration policies.[1][2][5]
Context. The White House claimed credit for the decline, and the claim as extracted was made by Speaker Mike Johnson on August 25, 2026, which is after the 2026-10-25 date; the underlying BLS data was reported in mid-August, before the claim date.[3][6]
Sources
6 sources: 2 fact-checkers, 1 primary, 1 tier 2, 2 not rated
- 1Trump Claims Credit for Drug Price Decline. Experts Say It's More Complicated.factcheck.org · fact-checker · cited for: supports, context
- 2Trump takes credit for drug price decline, but the reason is complexapnews.com · fact-checker · cited for: supports, context
- 3President Trump Delivers Largest Prescription Drug Price ...whitehouse.gov · primary source · cited for: context
- 4Prescription drug prices record sharpest drop in more than 60 ...washingtonpost.com · tier 2 · cited for: supports
- 5Prescription drug prices record sharpest drop in more than 60 yearsinquirer.com · not rated · cited for: context
- 6Mike Johnson Says Prescription Drug Prices Are at 'Lowest Levels' in 60 Years, Credits Trump and Republicans for Lower Costsyahoo.com · not rated · cited for: context
Where this claim was made
Said in 1 published post