Prescription Drug Prices Are Skyrocketing At Five Times The Rate Of Inflation

The price of prescription drugs has been surging this year, despite president Donald Trump campaigning on lowering drug prices prior to the 2016 election. According to new data from CBS, more than 3,400 drugs have raised their prices in 2019, which marks a 17% increase compared to the 2,900 increases at the same time in 2018.

And the average price hike for these drugs is an astounding 10.5%, which is about five times the rate of inflation as calculated by CPI. Hilariously – or sadly enough – the price of drugs is probably a better representation of real inflation to begin with. 41 drugs have raised their prices by more than 100%, including one version of the antidepressant Prozac, which is up 879% since last year.

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