During the previous summer at his New Jersey golf course, Donald Trump asserted that grocery prices had “skyrocketed” and pledged to lower them if re-elected, stating, “When I win, I will immediately bring prices down, starting on day one.”
However, grocery prices have not decreased in the first 100 days of his presidency.
In his initial 100 days, Trump’s actions have included significant impacts on federal workers, controversial proposals regarding migrants, a shift in stance on the Ukraine war, and economic consequences affecting retirement accounts and trade. Lowering grocery prices, however, has not been among the results.
While overall inflation has shown a slight downward trend, food inflation has continued to rise. Grocery prices have increased monthly since Trump assumed office, with the inflation rate reaching a nearly two-year high.
Polls indicate that voters are aware of this discrepancy. Matt McDermott, a Democratic pollster and consultant, notes that the promised relief has not materialized. Similarly, Republican consultant Sarah Longwell acknowledges that some Trump voters are expressing dissatisfaction with the lack of progress in lowering costs.
Trump has responded to these concerns by disputing the facts. In a recent statement, he claimed that “groceries have come down,” particularly citing a dramatic decrease in egg prices. This claim is inaccurate, as egg prices initially rose under his predecessor, Joe Biden, and continued to increase after Trump took office due to a bird flu epidemic.
Trump’s Inflation Order Falls Short as Trade Policies Threaten Higher Grocery Prices
During his campaign and after his election victory, Trump emphasized the importance of the grocery price issue. In December, he told NBC News, “I won on groceries… We’re going to bring those prices way down.” Upon retaking office, Trump signed an executive order aimed at addressing inflation and directing agencies to provide “emergency price relief.” However, the effectiveness of this directive is unclear, as grocery prices have continued to rise at a rate consistent with the previous year.
The recent implementation of trade war policies has further complicated the situation. Disruptions to transoceanic shipping and the imposition of tariffs on imports are expected to lead to shortages and price increases, including for imported food items. This could further escalate grocery prices.
Public opinion polls suggest a decline in approval ratings for Trump’s handling of the economy, with significant disapproval regarding his approach to inflation. Surveys indicate that most Americans believe his policies have hurt the economy.
A White House deputy press secretary from the Biden administration stated, “His No. 1 campaign promise was ‘I will end the devastating inflation crisis immediately.’ But instead, he’s raising prices with tariffs that are now the biggest middle-class tax hike in decades.”
Trump’s Economic Plans Draw Skepticism from Economists
Immediate deflation is unlikely without a severe economic crisis. The COVID-19 pandemic led to governmental interventions to prevent such a crisis, contributing to the inflation observed in 2022 and 2023. The article notes that Trump blames Biden’s energy policies for inflation, and promotes increasing fossil fuel production while imposing import taxes. Trump campaigned on constant claims that his plan to vastly increase fossil fuel production in the United States will lead to lower prices on everything, while his imposition of massive tariffs – paid for entirely by Americans – will finance all manner of domestic programs, including cheap child care.
Actual economists say his promises make no sense and cannot be fulfilled. Economists express skepticism about the feasibility of these proposals.