Trump Denies Inflation as Americans Feel the Pinch
So, here’s the latest in business news: President Donald Trump is claiming that inflation isn’t hurting Americans, a statement that’s raising eyebrows because it directly contradicts what people are actually experiencing every time they go grocery shopping or pay their bills. In a recent “60 Minutes” interview, Trump insisted, “We have no inflation. Our groceries are down.” But the reality, as reported by the Treasury Department and confirmed by consumer surveys, tells a very different story.
Inflation, while not at the crisis levels seen during the Biden years, is still very much present and, in fact, has been creeping up again. In September, it reached an annual rate of 3%, according to the Bureau of Labor Statistics, with food prices increasing across the board. Despite the president’s claims, Americans are spending more for the same goods than they did just a year or two ago. On average, households are shelling out over $200 more per month compared to September 2024, and over $1,000 more per month than at the start of 2021. So, when Trump says prices are down, most people are probably shaking their heads.
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The mistake Trump seems to be repeating is eerily similar to what haunted President Biden. Back in 2022 and 2023, Biden tried to highlight strong GDP growth and slower inflation increases, but many voters felt dismissed because the rising cost of living was hitting their wallets hard. Consumer confidence didn’t exactly soar, despite what the administration claimed, and this disconnect contributed to Democrats losing support in the 2024 elections. Trump, however, is taking a different approach — rather than downplaying the issue, he’s outright denying it, sometimes blaming Biden for economic problems.
The Treasury Department’s recent report paints a clearer picture: economic growth is steady, but wages are only slightly outpacing inflation, and lower-income Americans are feeling the squeeze more than ever. CEOs from major consumer brands like McDonald’s and Coca-Cola have noted that spending by middle- and lower-income shoppers is declining, signaling that the economic stress is real and tangible. Federal employment declines, AI disruptions, and immigration policies are also shaping the labor market, with potential long-term effects still unfolding.
Experts, including Federal Reserve Chair Jerome Powell, emphasize that people don’t care about GDP growth or technical measures; they feel the cumulative effect of years of rising prices. In other words, even if inflation slows slightly, the burden from prior years is still very real. Political strategist David Plouffe summed it up well when he said the fatal error for any administration is denying what voters are actually seeing and feeling.
So, while Trump may claim that inflation is under control, millions of Americans are living through a very different reality. The coming months, and upcoming elections, could show whether this disconnect will become a political liability or whether it can be weathered. In the meantime, the economy continues to hum along on paper, but for everyday Americans, the pinch of higher prices is unmistakable.
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