President Donald J. Trump began his term with a vow to tackle inflation and reduce living costs — and almost a year in, he claims significant strides in addressing the inflationary crisis he inherited. Since taking office, inflation has reportedly been reduced by over 50%, gas prices have plummeted, real wages are on the rise once more, and essential household expenses are finally moving in a favorable direction.
President Trump has curbed the inflation crisis initiated under Biden — and aims to lower it further.
Democrats are to blame. During Biden’s administration, inflation averaged nearly 5% and peaked at an astonishing 9.1%, a staggering inflation rate not seen in decades, largely propelled by the Radical Left’s fervor for spending.
President Trump is making changes. In his second term, inflation has decreased to an average of just 2.7% — a crucial initial step in reversing the Democrats’ cost-of-living calamity. In fact, under President Trump, Americans have experienced their first overall price decline since 2020. Core inflation, considered the most reliable measure, is now lower than at any point during Biden’s last three years in office.
Prices are declining — and there’s much more to come.
Democrats created the problem. Under Biden, prices soared across the board; car prices surged by 22%, gas prices climbed 30%, hotel costs jumped 37%, and airfare saw a 31% increase.
President Trump is addressing it. Under his leadership, prices for essentials such as eggs, butter, ice cream, fresh fruit, cereal, fish, seafood, rice, pasta, and ham have all dipped. Notably, the price of a Thanksgiving turkey this year was down nearly a third compared to the highs experienced during the Biden administration. Furthermore, household necessities such as toothpaste, shampoo, toilet paper, laundry detergent, and diapers have all seen significant price drops over the past year.
Additionally, households relying on propane or heating oil will spend less on heating this winter than last. Prices for propane, kerosene, firewood, and fuel oil have all decreased since President Trump took office.
Lastly, after rising nearly 9% during Biden’s term, prescription drug prices fell within President Trump’s initial eight months in office. His relentless “Most Favored Nation” initiative is poised to further lower drug prices, securing unprecedented deals that reduce costs for inhalers, arthritis medication, obesity drugs, infertility treatments, and more.
Under President Trump, Americans have experienced real wage growth — and efforts continue to reverse the damage done during Biden’s tenure.
Democrats are responsible. Under Biden, real wages for Americans plummeted by nearly $3,000.
President Trump is changing that. For the first time in years, wages are increasing at a pace that exceeds inflation. During Trump’s second term, even after adjusting for rising prices, Americans’ real wages are on track to increase by over $1,000 in his first full year, with even more significant gains for workers in certain sectors.
Americans are spending less on gas than they have in years as prices continue to decline.
Democrats are to blame. Under Biden, gas prices hit record highs, reaching levels never before seen in U.S. history while draining strategic reserves to artificially lower prices.
President Trump is making a difference. In his second term, gas prices have dropped to their lowest average in 1,741 days, with Americans on track to spend the least amount of their disposable income on gas in the past twenty years. Average gas prices have dipped below $3 per gallon in 39 states, under $2.75 in 24 states, and below $2.50 in seven states, with some stations even offering gas for below $2 per gallon in seven states.
After Biden’s open borders agenda devastated the housing market, affordability is finally trending positively for law-abiding Americans.
Democrats caused this issue. Under Biden, mortgage rates climbed to their highest in decades, while rents skyrocketed.
President Trump is addressing the crisis. As of early December, the average 30-year fixed mortgage rate stood at 6.19% — 12% lower than when Trump took office, translating to savings of around $3,000 annually for Americans on new mortgages. According to the Consumer Price Index, shelter inflation has reached a four-year low, with the national median rent declining for four consecutive months.
Despite the progress made, vital work remains to ensure that every American experiences the benefits of lower costs.
- All Americans will reap the rewards of the largest tax cuts in history. This includes eliminating taxes on tips, overtime, and Social Security, all of which will enhance tax returns. This groundbreaking legislation could increase Americans’ take-home pay by as much as $13,300 and wages by up to $11,600. In fact, due to this landmark law, millions of Americans are expected to see higher tax refunds, with the average refund projected to rise by about $1,000 per filer.
- President Trump’s deregulatory initiatives are saving Americans a total of $180 billion — or $2,100 per family of four. For instance, Trump halted cumbersome Biden-era efficiency standards that inflated the cost of everyday appliances.
- American consumers are thriving. Consumer sentiment is climbing once again, and small business optimism is on the rise, coinciding with record holiday shopping and sales.
- President Trump is bringing jobs and investments back to the U.S. Since he took office, companies have committed trillions of dollars to their U.S. operations, creating hundreds of thousands of new jobs for American workers.
- 2.7 million more American-born workers are employed today than when President Trump took office. The current employment figures mark a historical high for the U.S.
- The stock market is flourishing. Since Trump’s election, the stock market has reached 51 all-time record highs.
- President Trump is actively reducing the deficit. A combination of spending cuts, interest savings, economic growth, and tariff revenues is projected to lower the deficit by trillions of dollars — leading to higher take-home pay, reduced interest rates, and a more robust economy. Meanwhile, the trade deficit has already shrunk to its smallest since mid-2020, down more than 35% compared to last year.
- President Trump has eliminated Biden’s costly fuel efficiency standards for vehicles. The unrealistic standards from the Biden Administration would have forced Americans into expensive electric vehicles, inflating vehicle costs — and halting these regulations will save American families $109 billion over the next five years.
