Fact Check: Trump’s Claims On Inflation, Gas, Groceries And Drug Prices Don’t Add Up

A CNN analysis finds several recent claims by President Donald Trump about inflation and the cost of living are inaccurate. Over multiple appearances last week, Trump said overall prices have fallen since January and that “every price is down.” Government data shows the opposite: the Consumer Price Index indicates average prices in September were about 1.7% higher than in January and roughly 3% above September 2024 levels.

Trump also said inflation is “almost nonexistent” and “down to 2%.” The most recent annual inflation rate cited in the report is 3% for September, the same rate recorded in January. Inflation has accelerated since spring, undercutting the 2% claim.

On groceries, Trump asserted prices are “way down.” CPI grocery data shows average prices rose 1.4% from January to September and 2.7% year over year. August saw the largest month-to-month grocery jump in three years, followed by another increase in September. While some items, like eggs, fell earlier this year, far more products increased in price.

Trump further claimed prescription drug prices have been cut by 200% to as much as 1,200%—figures that are mathematically impossible. A 100% reduction would make a drug free; reductions beyond 100% would imply consumers are being paid to take medications.

On gasoline, Trump said prices have dropped to the lowest in two decades and are “almost $2.” AAA’s national average last week was just over $3 per gallon—well above $2 and higher than various points in 2020–2021. Finally, while oil prices on world markets have declined from last year and pump prices have eased somewhat, household energy costs in the CPI rose 6.2% year over year in September.

Credit: CNN Newsource

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