- Prescription Drug Prices Rose Almost 9 Percent in 2016, Continuing an Ongoing Trend Stat by Ed Silverman—For those debating the cost of prescription drugs, here is still more evidence illustrating how costs are thinning the American wallet—prices rose 8.8 percent last year, which is the fourth consecutive year of overall price hikes that exceeded 8 percent, according to a new analysis. Moreover, this amounts to an annual average price increase of almost 10 percent over the past three years.