Trump Denies Inflation as Americans Feel the Pinch
“We don’t have inflation,” President Donald Trump told CBS, claiming food prices are falling. It’s a message he’s repeated for months while urging the Federal Reserve to cut rates.
Official data tells a different story: September’s Consumer Price Index rose 3% year over year — well below the peak under former President Joe Biden but still above the Fed’s 2% goal. Inflation eased early in the year but picked up again due to higher tariffs.
Polls show most Americans remain uneasy. CNN found 72% say the economy feels unstable, and 60% blame Trump for current inflation levels. Analysts warn he risks repeating Biden’s mistake of minimizing economic pain.
In 2022, Biden downplayed soaring prices by focusing on growth — a move many believe cost Democrats politically. Though inflation later slowed, prices stayed high.
Trump now faces similar backlash. While Biden acknowledged rising costs, Trump denies inflation exists, a stance that alienates voters facing high grocery, gas, and rent prices.
Companies like Chipotle and Coca-Cola report lower spending among middle- and low-income consumers, and late payments are rising despite solid overall growth.
Moody’s Analytics estimates the average household now spends $208 more per month than a year ago — $1,043 more than in early 2021.
After a recent Fed rate cut, Chair Jerome Powell said consumers “don’t care about political narratives” — they just see higher costs. “Inflation’s slower, but prices are still high,” he said.
Democratic strategist David Plouffe summed it up: “Never tell people what they’re seeing with their own eyes isn’t real.”