Drug costs typically increase every January and July. This January, the list prices for 810 prescription drugs increased by an average of 5.1 percent.
This increase is mild compared with price hikes for other goods during the pandemic, as the price of car rentals, beef, tobacco and moving expenses have increased more quickly than the price of prescription drugs, according to the report.
Historically, prescription drug prices have grown faster than the rate of inflation. Prescription drug prices have risen by 35 percent since 2014, while the cost of all items and services has risen by 19 percent, according to GoodRx.
Read the full report here.
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