{"id":60616,"date":"2025-12-11T17:43:13","date_gmt":"2025-12-11T17:43:13","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/trump-says-u-s-prices-are-coming-down-tremendously-heres-what-the-data-shows\/"},"modified":"2025-12-11T17:43:13","modified_gmt":"2025-12-11T17:43:13","slug":"trump-says-u-s-prices-are-coming-down-tremendously-heres-what-the-data-shows","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/trump-says-u-s-prices-are-coming-down-tremendously-heres-what-the-data-shows\/","title":{"rendered":"Trump says U.S. prices are &#8220;coming down tremendously.&#8221; Here&#8217;s what the data shows."},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div id=\"\">\n<p>President Trump delivered a message Tuesday evening aimed at the millions of Americans <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/affordability-2025-inflation-food-prices-housing-child-care-health-costs\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">struggling to afford daily necessities<\/a><\/span>, saying his administration is <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-affordability-speech-economy-pennsylvania\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">&#8220;crushing&#8221; inflation<\/a><\/span> and that &#8220;prices are coming down tremendously.&#8221; Economic data tells a different story.\u00a0<\/p>\n<p>Prices have edged higher for much of Mr. Trump&#8217;s first year back in the White House, with inflation in September <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/cpi-report-today-inflation-september-2025-tariffs\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">rising at an annual rate of 3%<\/a><\/span> (the most recent available inflation data because of the recent U.S. <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/feature\/government-shutdown\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">government shutdown<\/a><\/span>).<\/p>\n<p>Inflation dipped to a low this year of 2.3% in April, but it has steadily ticked up since then and now stands at the same rate as in January, when Mr. Trump was inaugurated, federal data <a href=\"https:\/\/www.bls.gov\/charts\/consumer-price-index\/consumer-price-index-by-category-line-chart.htm\" target=\"_blank\" rel=\"nofollow noopener\">shows<\/a>. Economists attribute the rise partly to the Trump administration&#8217;s new <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-tariffs-consumer-price-hikes-inflation-coffee-autos-apparel-cpi\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">tariffs on imports<\/a><\/span>, with Federal Reserve Chair Jerome Powell pointing to those levies as a key factor behind the recent uptick.<\/p>\n<p>Inflation now &#8220;is higher than earlier in the year as inflation for goods has picked up, reflecting the impact of tariffs,&#8221; Powell said at a press conference on Wednesday to discuss the central bank&#8217;s <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/federal-reserve-fomc-meeting-today-rate-cut-decision-jerome-powell\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">latest interest rate cut<\/a><\/span>.<\/p>\n<p>Some Wall Street analysts think prices are likely to continue creeping up for a while. Mark Vickery, senior market analyst at Zacks Investment Research, estimates that the Consumer Price Index rose at an annual rate of around 3.3% in November.\u00a0<\/p>\n<p>To be sure, many economists, as well as the Fed, expect any additional pickup in inflation to be short-lived before easing in 2026. Powell on Wednesday said the tariff effect will likely create a one-time rise in prices that should fade over the coming year. The Fed expects inflation to recede to 2.4% next year, down from about 2.9% in 2025.<\/p>\n<p>From a longer-term perspective, inflation has indeed fallen sharply since hitting a 40-year high of about 9% in June 2022 in the aftermath of the pandemic.<strong> <\/strong>For shoppers, however, a lower inflation rate doesn&#8217;t mean prices are declining \u2014 only that they&#8217;re rising at a slower pace.\u00a0<\/p>\n<p>Consumers tend not to view pocketbook issues through the lens of official inflation measures, a somewhat abstract metric that tracks price fluctuations over time, experts have long noted. Instead, many shoppers focus on their actual dollars-and-cents spending, including whether their out-of-pocket expenses are higher than they were in the past, <a href=\"https:\/\/www.choicesmagazine.org\/choices-magazine\/submitted-articles\/grocery-inflation-is-low-but-why-do-consumers-feel-it-is-high\" target=\"_blank\" rel=\"nofollow noopener\">according<\/a> to research from the University of Florida.\u00a0<\/p>\n<p>By that yardstick, Americans are spending more on everyday basics than they were a year ago, and far more than they did just before the pandemic, CPI data shows.<\/p>\n<p><span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-affordability-speech-economy-pennsylvania\/\" data-invalid-url-rewritten-http=\"\">Mr. Trump&#8217;s remarks<\/a><\/span>, made Tuesday in Mount Pocono, Pa., came as his administration touts the president&#8217;s economic policies ahead of next year&#8217;s midterm elections.\u00a0<\/p>\n<p>&#8220;I have no higher priority than making America affordable,&#8221; Mr. Trump said in the speech.<\/p>\n<p>Prior to the speech, Mr. Trump had decried affordability as a &#8220;hoax&#8221; perpetuated by Democrats, although some Republicans, including Rep. Marjorie Taylor Greene, have differed with him on the issue. Greene told CBS News that she doesn&#8217;t believe affordability is a hoax, adding, &#8220;Everyone&#8217;s bills have either stayed the same or gone up.&#8221;<\/p>\n<p>&#8220;You can&#8217;t gaslight people and tell them that their bills are affordable,&#8221; Greene said.<\/p>\n<p>White House spokesman Kush Desai expressed confidence that Mr. Trump&#8217;s agenda will cool inflation and boost worker wages.<\/p>\n<p>&#8220;President Trump inherited the worst inflation crisis in a generation from Joe Biden&#8217;s incompetence, and his Administration has rapidly cooled inflation to a 2.5% annualized rate,&#8221; Desai said in a statement to CBS News. &#8220;As the administration&#8217;s supply-side policies of tax cuts, deregulation and energy abundance continue taking effect, Americans can count on inflation continuing to fall and real wages continuing to rise.&#8221;<\/p>\n<h2>Food\u00a0<\/h2>\n<p>Americans paid 2.7% more for food bought at the grocery store in September than they did a year earlier, according to the most recent CPI figures. That may not seem like much, but their grocery bills have climbed roughly 49% since 2020.\u00a0<\/p>\n<ul>\n<li><em>See the CBS News <\/em><span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/price-tracker\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\"><em>price tracker<\/em><\/a><\/span> <em>showing changes in the price of food, gas, utilities and other costs<\/em><\/li>\n<\/ul>\n<p>Some food costs are also rising much faster than the rate of inflation, with beef steaks surging <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/inflation-beef-coffee-bananas-food-prices-cpi\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">almost 17% from a year ago<\/a><\/span>, according to the CPI data. Earlier this month, the Trump administration sought to lower some grocery prices by <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-cuts-tariffs-beef-coffee-bananas-and-other-food-imports\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">exempting foods like beef<\/a><\/span>, coffee and bananas from new country-specific tariffs.<\/p>\n<p>Shoppers on Tuesday told CBS News&#8217; Nancy Cordes that they are making tradeoffs and scrimping to afford groceries.<\/p>\n<p>&#8220;The cost of beef is astronomical. I will mainly get what&#8217;s on sale,&#8221; Anne Marie Hadley, a retired special education teacher who was shopping Tuesday at Schiel&#8217;s Family Market, a family-owned grocery store in Scranton, Pa., told Cordes.\u00a0<\/p>\n<h2>Housing<\/h2>\n<p>While mortgage rates have dropped this year, housing remains out of reach for most would-be buyers. More than 75% of homes across the country are unaffordable for the typical household, Bankrate <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/affordable-housing-home-prices-bankrate\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">said in a report<\/a><\/span> this week.\u00a0<\/p>\n<p>A homebuyer today needs to earn $131,400 a year to afford a typical home in the U.S. \u2014 almost double the roughly $65,000 needed five years ago, according to the Federal Reserve Bank of Atlanta.\u00a0<\/p>\n<p>Almost three-quarters of Americans said housing has grown more unaffordable in their communities in recent years, <a href=\"https:\/\/realgoodcenter.jou.ufl.edu\/center-update\/october-2025-nationwide-survey-sheds-light-on-americans-increasing-worry-about-housing-affordability\/\" target=\"_blank\" rel=\"nofollow noopener\">according<\/a> to an October poll from YouGov and the University of Florida Center for Public Interest Communications.\u00a0<\/p>\n<h2>Gas<\/h2>\n<p>One area where consumers are getting a break is at the pump, with gasoline prices down from a year earlier. Gas declined 0.5% in September from a year earlier, CPI data shows. And earlier this month, gas <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/gas-prices-december-2025-lowest-since-2021\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">dropped below $3 a gallon<\/a><\/span> on average, marking the lowest price since May 2021.\u00a0<\/p>\n<p>&#8220;It was just reported that four states had $1.99 a gallon,&#8221; Mr. Trump said on Tuesday. &#8220;We are right now involved in more energy, and have more energy in the works by far than we&#8217;ve ever had before.&#8221;<\/p>\n<p>The decline is due to strong refinery output and lower crude oil prices, as well as to softer seasonal fuel demand, GasBuddy has said.\u00a0<\/p>\n<p>Yet while fuel prices have dropped, other energy costs have increased. Residential electricity prices around the U.S. <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/power-shutoffs-energy-bill-debt-us-households\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">rose more than 10%<\/a><\/span> over the first eight months of 2025, according to the National Energy Assistance Directors Association, an educational and policy organization. By comparison, power costs rose roughly 6% over the trailing 12 months.\u00a0<\/p>\n<p>As of June, nearly one in 20 U.S. households was seriously behind on their utility bills, according to a <a href=\"https:\/\/tcf.org\/content\/commentary\/fueling-debt-how-rising-utility-costs-are-overwhelming-american-families\/#easy-footnote-bottom-3-64123\" target=\"_blank\" rel=\"nofollow noopener\">report<\/a> from The Century Foundation, a nonpartisan think tank, and advocacy group Protect Borrowers. Over the last three years, the average overdue balance on utility bills climbed from $597 to $789, a 32% jump, the groups found.\u00a0<\/p>\n<p><em>\u2014 With reporting by CBS News&#8217; Nancy Cordes.<\/em><\/p>\n<section class=\"content__body--footer\">\n<p class=\"content__meta--editors\">\n      Edited by<\/p>\n<p>                                  <a href=\"https:\/\/www.cbsnews.com\/team\/alain-sherter\/\" class=\"byline__author__link\" data-invalid-url-rewritten-http=\"\">Alain  Sherter<\/a>\n                      <\/p>\n<\/section>\n<p>  <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation \" wp_automatic_readability=\"0.12\">\n<h3 class=\"component__title\">More from CBS News<\/h3>\n<div class=\"component__item-recirc-block\" wp_automatic_readability=\"0.56844547563805\">\n<h3 class=\"component__title\">Go deeper with The Free Press<\/h3>\n<\/p><\/div>\n<\/aside>\n<section class=\"content__body--footer\">\n      <!-- tags --><\/p>\n<section class=\"content__tags\">\n<\/section>\n<\/section><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cbsnews.com\/news\/trump-speech-affordability-fact-check-inflation-data\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Trump delivered a message Tuesday evening aimed at the millions of Americans struggling to afford daily necessities, saying his<\/p>\n","protected":false},"author":1,"featured_media":60617,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33],"tags":[157,957],"class_list":["post-60616","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us","tag-donald-trump","tag-inflation"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Trump says U.S. prices are &quot;coming down tremendously.&quot; Here&#039;s what the data shows. - World News<\/title>\n<meta name=\"description\" content=\"President Trump says he&amp;#039;s winning the war against inflation. 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