Inflation mostly moderated during the first six months of President Donald Trump’s second term, although there are signs it could be picking back up and economists are worried about the effect of his tariffs.
High inflation seriously damaged President Joe Biden’s economic approval ratings, as soaring costs for food, housing, and other necessities immiserated families.
An update to the consumer price index released Tuesday showed inflation holding steady at 2.7% for the year ending in July.
Here is how key prices have fared during Trump’s tenure so far.
Eggs
The price of eggs was in focus when Trump took office because it soared thanks to an outbreak of bird flu that hammered the supply.
Prices have plunged since then. The price of a dozen eggs has dropped below $4 a dozen, after eclipsing $6 earlier in the year, the CPI showed Tuesday.
Daily price reporting from the U.S. Department of Agriculture shows that egg prices have only dropped further in August, to below $3 a dozen.
Groceries
Families had to contend with sharply rising grocery bills in recent years. While grocery prices are not rising as fast as they were in the years immediately following the pandemic, they are still rising steadily.
Shelter
Housing prices soared during Biden’s term. Along with rising mortgage rates, higher prices translated into a major affordability problem and put homebuying out of reach for many.
Shelter in the CPI, a category that includes both rents and the imputed cost of homeownership, is still rising, but the rate of inflation has trended down significantly.
Gas
Gas prices have moderated under Trump. The gas price index in July was the lowest for the month of July, which is in the middle of summer driving season, in five years.
The average price of a gallon of gas nationwide as of Tuesday is $3.140, according to AAA.
