President Donald J. Trump took office with a clear promise: defeat inflation and restore affordability for American families. Eleven months into his second term, that promise is being fulfilled. The inflation and cost-of-living crisis inherited from the Biden Administration is being reversed—steadily and decisively.
Inflation has been cut by more than half. Gas prices are falling. Real wages are rising again. And for the first time in years, the prices of everyday necessities are finally moving in the right direction.
President Trump confronted Biden’s inflation crisis head-on—and the results are undeniable.
Inflation: From Crisis to Control
Democrats caused it.
Under President Biden, inflation averaged nearly 5% and peaked at 9.1%—the worst inflation surge in decades. Reckless, ideologically driven spending by the Radical Left flooded the economy with excess dollars and crushed household purchasing power.
President Trump is fixing it.
Under President Trump’s leadership, inflation has fallen to an average of just 2.7%, marking a critical first step toward restoring price stability. Americans have even experienced the first overall price decline since 2020. Core inflation—widely regarded as the most reliable measure—is now lower than at any point during the final three years of the Biden Administration.
Prices are falling—and more relief is on the way.
Everyday Prices: Relief at the Checkout Line
Democrats caused it.
During the Biden years, prices surged across the board: car prices rose 22%, gas prices jumped 30%, hotel rates climbed 37%, and airfares increased 31%.
President Trump is fixing it.
Under President Trump, prices for staple goods—including eggs, butter, ice cream, fresh fruit, cereal, fish, seafood, rice, pasta, and ham—have declined. The price of a Thanksgiving turkey fell nearly one-third compared to its Biden-era peak. Everyday household items such as toothpaste, shampoo, toilet paper, laundry detergent, and diapers have also seen substantial price drops over the past year.
Heating costs are easing as well. Families using propane or heating oil will pay less this winter than last year. Since President Trump took office, prices for propane, kerosene, firewood, and fuel oil are all down.
Prescription drug prices—after rising 9% under Biden—fell during President Trump’s first eight months in office. And with President Trump’s “Most Favored Nation” initiative, Americans can expect even deeper reductions on inhalers, arthritis medications, obesity treatments, infertility drugs, and more.
Wages: Buying Power Restored
Democrats caused it.
Under President Biden, Americans suffered a devastating loss in purchasing power, with real wages falling by nearly $3,000.
President Trump is fixing it.
For the first time in years, wages are rising faster than inflation. After accounting for price changes, Americans’ real wages are on track to increase by more than $1,000 after President Trump’s first full year— with even greater gains for workers in key industries.
Gas Prices: Relief at the Pump
Democrats caused it.
Gas prices reached record highs under President Biden, even as the Administration drained the Strategic Petroleum Reserve to artificially suppress costs.
President Trump is fixing it.
Gas prices have dropped to their lowest average in 1,741 days. Americans are on track to spend the smallest share of disposable income on gasoline in nearly 20 years. Prices have fallen below $3 per gallon in 39 states, below $2.75 in 24 states, and below $2.50 in seven states. In some locations, prices have dipped under $2 per gallon.
Housing: Affordability Begins to Recover
Democrats caused it.
Biden’s open-borders policies and runaway inflation drove mortgage rates to decades-high levels while rents soared.
President Trump is fixing it.
As of early December, the average 30-year fixed mortgage rate stood at 6.19%—12% lower than when President Trump took office—saving families roughly $3,000 per year on new mortgages. Shelter inflation is now at a four-year low, and the national median rent has declined for four consecutive months.
Building on Progress: More Relief Ahead
While meaningful progress has been made, the Trump Administration is pressing forward to ensure every American fully benefits from lower costs, higher wages, and a stronger economy.
A whole-of-government effort is driving prices down, boosting take-home pay, and restoring economic confidence. Despite Democrats’ attempts to rewrite history, the facts are clear: they created this affordability crisis—and President Trump is fixing it.
Delivering Results for American Families
- Historic tax relief: The largest tax cuts in history—including No Tax on Tips, No Tax on Overtime, and No Tax on Social Security—will raise take-home pay by up to $13,300 and wages by as much as $11,600. Average tax refunds are projected to increase by about $1,000 per filer.
- Regulatory rollback: President Trump’s deregulatory agenda is saving Americans $180 billion—about $2,100 per family of four—by eliminating costly Biden-era rules that drove up prices on everyday appliances and essentials.
- Rising confidence: Consumer sentiment and small business optimism are rebounding amid record holiday shopping and sales.
- Jobs and investment: Trillions of dollars in new U.S. investment have been announced, creating hundreds of thousands of American jobs and bringing manufacturing back home.
- Record employment: There are 2.7 million more American-born workers employed today than when President Trump took office. The United States now has more people working than at any point in its history.
- Market strength: Since President Trump’s election, the stock market has reached 51 all-time record highs.
- Deficit reduction: Spending cuts, economic growth, interest savings, and tariff revenues are projected to reduce the deficit by trillions of dollars. The trade deficit has already narrowed to its lowest level since mid-2020—down more than 35% year over year.
- Lower vehicle costs: President Trump repealed Biden’s costly fuel-efficiency mandates that would have forced families into expensive electric vehicles—saving Americans $109 billion over the next five years.
Bottom line: Democrats fueled inflation and crushed affordability. President Trump is restoring economic sanity—and putting American families first.
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