Trump promised to lower prices for Americans. Here's what the data shows.
Updated on: October 9, 2026 / 3:53 PM EDT / CBS News
TL;DR
- President Trump campaigned on promises to lower the cost of living, including specific goals for gas prices and mortgage rates.
- Two years later, consumers are facing higher costs for many necessities, contributing to voter frustration over the economy.
- Economists note that cumulative post-pandemic inflation predates Trump's return, but his policies, such as tariffs and intervention in Iran, are cited as exacerbating inflation.
- Groceries have increased 4% since November 2024, adding to a previous 23% jump, while gas prices are at record highs for October.
- Energy bills have risen, with electricity costs up 12.5% and natural gas prices up 106% between December 2024 and July 2025.
- Car insurance costs have seen a slight decrease, attributed more to industry competition than public policy.
- Mortgage rates have increased slightly since Trump took office, and home prices remain high, widening the gap between income needed and median income.
- Credit card rates have seen a minor decrease but remain significantly above Trump's proposed cap.
- Airfare costs are up 17% compared to January 2025, influenced by rising jet fuel prices due to geopolitical conflict.
- ACA health insurance premiums and deductibles have significantly increased, though the Trump administration has provided some direct relief checks.
- Prescription drug prices have fallen since Trump took office, with his administration crediting specific policies, though increased competition and generic drugs also play a role.