Share

AP FACT CHECK: Trump cites drug-price drop that isn't

Share

WASHINGTON (AP) — President Donald Trump is misstating the facts when it comes to prescription drug prices.

Speaking Monday at a White House dinner, he cited a remarkable drop in prescription drug prices. But a government index that had registered some declines is now showing an increase again. Some experts say more increases are likely.

A look at the claim:

TRUMP: “Drug prices have gone down for the first time in 51 years — they’ve gone down. First time in 51 years.”

THE FACTS: The president appeared to be referring to recent decreases in the Labor Department’s Consumer Price Index for prescription drugs, touted by the administration. But the CPI was updated Friday, before Trump’s latest claim, and it showed an increase of 0.3% in April for prescription drug prices, when compared with the same month last year.

Trending:
Dan Bongino Punishes Sponsor for Bowing to Antifa Mob

The index tracks a set of medications, both brand drugs and generics.

Other independent studies point to increasing prices for brand name drugs as well and more overall spending on medications.

An analysis of brand-name drug prices by The Associated Press showed 2,712 price increases in the first half of January, compared with 3,327 increases during the same period last year. However, the size of this year’s increases was not as pronounced.

Both this year and last, the number of price cuts was minuscule. The information for the analysis was provided by the health data firm Elsevier.

An analysis by Altarum, a nonprofit research and consulting firm, found that in 2018, spending on prescription drugs was one of the main factors behind a 4.5% increase in U.S. health spending. Spending on prescription drugs grew much faster than in 2017, according to the study.

Economist Paul Hughes-Cromwick of Altarum, said he expects drug prices will continue to creep up.

“I would be quite surprised if by July the annual rate doesn’t return to a more normal 2%-4% growth,” said Hughes-Cromwick.

Hughes-Cromwick said the government’s inflation index can bounce around from month to month. If White House economic advisers “want to live by favorable months,” he said, “they’d better be ready to die by the less favorable ones.”

The government estimates the nation’s health care tab hit $3.6 trillion last year, or about 18% of the economy.

Related:
Vegas Attorney Claims There Is More to the Story in Domestic Violence Case Involving Famous Musician

___

Find AP Fact Checks at http://apne.ws/2kbx8bd

Follow @APFactCheck on Twitter: https://twitter.com/APFactCheck

The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.

Truth and Accuracy

Submit a Correction →



loading

We are committed to truth and accuracy in all of our journalism. Read our editorial standards.

Tags:
Share
The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands.
The Associated Press was the first private sector organization in the U.S. to operate on a national scale. Over the past 170 years, they have been first to inform the world of many of history's most important moments, from the assassination of Abraham Lincoln and the bombing of Pearl Harbor to the fall of the Shah of Iran and the death of Pope John Paul.

Today, they operate in 263 locations in more than 100 countries relaying breaking news, covering war and conflict and producing enterprise reports that tell the world's stories.
Location
New York City




loading

Conversation