Prescription prices plunge, but real patient savings remain unclear.

U.S. prescription drug prices fell 0.8% in July and are down 3.1% year over year—the steepest annual decline in more than six decades—driven by generic competition, GLP-1 price pressure, and price cuts tied to the Inflation Reduction Act and related Trump administration deals; but rebates are not fully captured in the CPI, and falling prices don't guarantee lower out-of-pocket costs as many Americans still struggle to afford medications.