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In a Tuesday speech to Republican members of Congress, President Donald Trump made several inaccurate claims about inflation and prices, continuing a pattern of misrepresenting economic data during his second term.
The president falsely claimed that gasoline was selling for under $2 per gallon in five states. According to Patrick De Haan, head of petroleum analysis at GasBuddy, there wasn’t a single station among the tens of thousands tracked nationwide offering gas at $1.99 or less on Tuesday. AAA data showed Mississippi had the nation’s lowest average price at $2.71 per gallon, significantly higher than Trump’s claim. This continues a pattern of similar unsubstantiated claims about gas prices that the president has made throughout the year.
Trump also incorrectly stated that grocery prices “are down.” Consumer Price Index data contradicts this assertion, showing grocery prices in June were approximately 0.6% higher than January’s figures when Trump took office, and about 2.4% higher than June 2024. While grocery prices did briefly decline in April due to dropping egg prices following an avian flu outbreak, they subsequently rose again in May and June.
Perhaps most notably, the president claimed that “prices are all down” across the economy. This statement directly contradicts official economic data. As of June, overall consumer prices were about 2.7% higher than June 2024, approximately 0.3% higher than May 2025, and roughly 1.5% higher than January 2025 when Trump began his second term. The president’s suggestion that no prices have increased is demonstrably false.
Trump further claimed that Democrats are lying when they point out that prices have risen during his presidency. However, these Democratic statements align with economic reality as reflected in government data. While oil prices have declined in global markets, U.S. gasoline prices have actually increased slightly since January, rising from about $3.12 to $3.14 per gallon according to AAA. However, as De Haan noted, the national average is lower than it was at this point in every year since 2021.
The president also incorrectly stated that core inflation is “below 2%.” The most recent Consumer Price Index shows core inflation, which excludes volatile food and energy prices, at approximately 2.9% in June compared to June 2024. Other inflation measurements also exceed Trump’s claim, with the Personal Consumption Expenditures price index showing core inflation at about 2.7% in May compared to the previous year, while the Producer Price Index registered core inflation at approximately 2.6%.
While normal economic conditions typically include some price inflation—the Federal Reserve generally aims for 2% inflation over the long term—Trump made reducing prices a signature campaign promise. He could accurately note that inflation remains significantly below the peak levels of 2022 when it briefly exceeded 9%, and that his new tariff policies haven’t immediately caused dramatic price increases. However, his claim that prices are declining across the board is not supported by economic data.
The president’s statements come amid ongoing scrutiny of his economic policies, particularly his criticism of Federal Reserve Chair Jerome Powell and interest rates. Despite Trump’s characterization of prices trending downward, the data shows modest but continued inflation during the early months of his second administration.
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10 Comments
Interesting to see fact-checking on economic claims. It’s important to verify data and not just accept statements at face value, especially from political figures. Curious to hear more details on the specific inflation and price points Trump got wrong.
Agreed, it’s critical to look past the rhetoric and examine the underlying data. Fact-checking helps cut through the noise and provide a more accurate picture.
While inflation is a legitimate concern, it’s disturbing to see the president making demonstrably false claims. Fact-checking is a vital check on political rhetoric, ensuring the public has access to accurate information. This underscores the importance of independent, non-partisan analysis of economic data.
Absolutely. Reliable data and objective reporting are crucial for informed public discourse, especially on issues like inflation that have such a broad impact. Fact-checking holds leaders accountable and helps citizens make more informed decisions.
It’s concerning to see the president making inaccurate claims about something as fundamental as gas and grocery prices. Reliable data and impartial analysis should be the basis for any discussion on inflation, not partisan rhetoric. Curious to see if this will prompt a more substantive policy debate.
I agree, a fact-based, data-driven approach is essential for addressing complex economic challenges. Hopefully this will encourage more rigorous, evidence-based policymaking on inflation and other key issues.
This is a disappointing example of a political figure distorting economic facts for their own agenda. Accurate data and impartial analysis should be the foundation for any discussion on inflation and its effects. Fact-checking is an essential safeguard against the spread of misinformation, even from the highest levels of government.
You make a good point. Maintaining the integrity of economic data and analysis is vital for effective policymaking and public understanding. Fact-checking helps ensure that leaders are held accountable and that the public has access to reliable information.
This highlights the need for objective, non-partisan analysis of economic statistics. While inflation is a complex issue, it’s worrying to see blatant misrepresentation of data, even from senior political leaders. Fact-checking is essential for holding public figures accountable.
You’re right, fact-checking is crucial to maintaining transparency and trust in our institutions, especially when it comes to important economic metrics that impact everyone.