Background: Increase in prices of drugs has always been a topic of concern across the world. In countries like India, where people have to bear this expenditure out of pocket, rise in prices of drugs is a major issue. Objective: To find out the pattern of changes in prices of some commonly used drugs over a period of 15 years. Materials and methods: We selected some commonly used drugs used in the treatment of cardiovascular system (CVS), central nervous system (CNS), respiratory, hematological, gastrointestinal, and endocrine diseases. We also included some other drugs like antimicrobials, anti-allergics, and nonsteroidal anti-inflammatory drugs (NSAIDs). Information on the prices of drugs was extracted at four time points: years 2001, 2006, 2011, and 2016. Percentage change in prices over a period of 15 years was calculated. We followed the time course of price variation of the same dosing strengths of the highest and lowest priced brands, out of the various brands available. We categorized the drugs into three categories: more than or equal to 100% increase in price, “decrease” and “no change.” Results: Out of total 117 drugs, 28 drugs (24%) showed an increase of more than 100% over this period. Among lowest priced brands, there was a mean [standard deviation (SD)] increase of 222% (142), and among highest priced brands, there was an average increase of 244% (205). Fifty-nine (50%) drugs showed “no change” or “decrease” in price, the reason for which in 31 (52.5%) came under price control. Conclusion: Since the prices of raw materials tend to decline over time, the hike in drug prices appears unjustified.