In a bid to seize the narrative on prescription drug pricing, the White House issued a report that criticized a steady stream of news stories for saying prices are rising and, instead, argued that an economic index shows prices have actually fallen recently.
However, the effort was quickly denounced because the index does not account for all medicines, including some newer and pricier drugs.
In its report, the Council on Economic Advisers maintained that the prescription drug component of the consumer price index indicated drug prices were rising more slowly than general price inflation. As of August, this metric declined by 0.7% over the previous 12 months. And from the peak in June 2018 through August 2019, the index declined by 1.9%.
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