Trump Vows to Keep Bringing Prices Down: Heres What the Inflation Data Shows
Key TakeawaysTrump said oil, gas, eggs and drug prices are falling, as June CPI fell 0.4%, the most since April 2020.Gas averaged $3.86 a gallon, down from a May peak above $4.50, after Trump demanded retailers target $2.50.Egg prices rose 4.3% in June even though they sit 27.9% below year-ago levels, complicating the White House narrative. The Claim Trump made the pledge in a post on Truth Social, writing: We will continue to bring Prices DOWN, just like Oil, Gas, Eggs, and Prescription Drugs, all of which are dropping FAST after the disaster we inherited from Sleepy Joe Biden. Image source: Truth Social The message extends a weeks-long pressure campaign because on June 30, the president told U.S. fuel retailers to cut pump prices “immediately,” setting a target of around $2.50 a gallon. Moreover, his administration publicized grocery-chain moves such as Giant Eagles decision to cut prices on more than 300 frequently purchased products by an average of 10% through Labor Day. What the June Numbers Show The governments own data gives the claim meaningful, if imperfect, backing. The Consumer Price Index (CPI) fell 0.4% in June on a seasonally adjusted basis, the largest one-month decline since April 2020, according to the Bureau of Labor Statistics. Over