Prescription drug prices fall at fastest rate in decades

SAVANNAH, Ga. (WTOC) -Prescription drug prices are falling at the fastest rate in decades, according to new data released by the U.S. Bureau of Labor Statistics.

The data shows 2026 prescription drug prices have dropped nearly 4%, the largest decrease the bureau has recorded in decades.

A local pharmacist from Quick Rx Drugs said lawmakers in Washington deserve much of the credit for driving down prescription drug prices, easing the strain on people’s pocketbooks.

Biggest price drops seen in insulin, heart medications

Pharmacist Joseph Duke said he has seen the largest price drops in insulin, diabetes and heart medications.

Duke credited Medicare programs and price caps for the decrease. He said pharmacies are seeing lower costs, so community members are paying less too.

“Since 2026 started we’ve seen a drop especially in insulin prices and several diabetic medications and heart medications mostly through some Medicare programs that have capped a lot of copays and we’ve also seen drops in their costs as well,” Duke said.

Duke said prices also drop when brand-name drugs go generic.

Other ways to save

Duke said community members can save in other ways too. He recommended checking the manufacturer’s website for coupons, asking a pharmacist about a generic option, and finding out whether you qualify for a Medicare assistance program.