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
- 2 times·
- Confidence
- 85%
Speaker Mike Johnson@SpeakerJohnsonOct 26, 2026… middle- and working-class tax cut in history, heading off the largest tax hike ever — a $1.6 trillion reduction in wasteful government spending, a totally secured border, erased crushing Biden-era regulations, the lowest violent crime rate in 126 years, the largest decline in prescription drug costs in 60 years, Trump Accounts for every child, the first-ever nationwide school choice program, more than one million private sector jobs added to the economy, reshoring of American manufacturing, record stock market indexes and job participation numbers, and so much …
Multiple 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.
This claim is about the present, so it is judged as of the day it was checked.
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 2 published posts