President Donald Trump was elected for a second term largely on a platform promising to tackle inflation, which many voters voiced as a primary concern. This focus on the rising cost of living led Trump to blame President Joe Biden, while asserting that he would significantly bring down prices, starting from day one of his presidency. A year into his administration, BBC Verify examines the veracity of some of these claims.
**Groceries**
At a news conference in August 2024, Trump boldly claimed, 'When I win, I will immediately bring prices down, starting on Day One,' amidst displays of basic food items. However, official data indicates grocery prices have risen by 2.7% over the past year, with certain staples experiencing even steeper price hikes. Experts point out that while presidential policies play a role, factors like tariffs and undocumented immigration policies are also contributing to the rising costs of food; for example, a third of coffee consumed in the US incurs a hefty import tariff from Brazil.
**Electricity**
Trump's campaign promise included slashing electricity bills by half within 12 to 18 months, yet averages have increased instead, reflecting a rise in electricity costs driven by factors like demand spikes from data centers, tariffs on imported steel, and cuts in renewable energy subsidies. Experts assert that the complexity of electricity pricing extends beyond just the cost of generation.
**Cars**
Hopes for reduced car prices are equally disappointing. Trump's assertion at a September 2024 rally about lowering prices for various consumer goods clashed with data showing that the average price of a new vehicle surpassed $50,000 for the first time. Tariffs imposed on the automotive sector are cited as significant contributors to ongoing inflation.
**Gasoline**
Cementing his initial campaign pledges, Trump promised gasoline prices below $2 a gallon. Currently, prices are almost at $3, an improvement from when he took office but still far from his target. Officials highlight a long push toward resource availability as key to stabilizing gas prices but acknowledge the limited control over global market fluctuations.
Overall, under Trump's administration, promised price cuts have largely remained unrealized in critical areas, with increasing costs for living essentials dominating the economic landscape. As the U.S. navigates ongoing inflation challenges, scrutiny remains high regarding the impact of presidential decisions on everyday prices.
**Groceries**
At a news conference in August 2024, Trump boldly claimed, 'When I win, I will immediately bring prices down, starting on Day One,' amidst displays of basic food items. However, official data indicates grocery prices have risen by 2.7% over the past year, with certain staples experiencing even steeper price hikes. Experts point out that while presidential policies play a role, factors like tariffs and undocumented immigration policies are also contributing to the rising costs of food; for example, a third of coffee consumed in the US incurs a hefty import tariff from Brazil.
**Electricity**
Trump's campaign promise included slashing electricity bills by half within 12 to 18 months, yet averages have increased instead, reflecting a rise in electricity costs driven by factors like demand spikes from data centers, tariffs on imported steel, and cuts in renewable energy subsidies. Experts assert that the complexity of electricity pricing extends beyond just the cost of generation.
**Cars**
Hopes for reduced car prices are equally disappointing. Trump's assertion at a September 2024 rally about lowering prices for various consumer goods clashed with data showing that the average price of a new vehicle surpassed $50,000 for the first time. Tariffs imposed on the automotive sector are cited as significant contributors to ongoing inflation.
**Gasoline**
Cementing his initial campaign pledges, Trump promised gasoline prices below $2 a gallon. Currently, prices are almost at $3, an improvement from when he took office but still far from his target. Officials highlight a long push toward resource availability as key to stabilizing gas prices but acknowledge the limited control over global market fluctuations.
Overall, under Trump's administration, promised price cuts have largely remained unrealized in critical areas, with increasing costs for living essentials dominating the economic landscape. As the U.S. navigates ongoing inflation challenges, scrutiny remains high regarding the impact of presidential decisions on everyday prices.
