Urgent.News

What's breaking now, across thousands of outlets.

Finance & Markets

Trump Blames America's High Prices on Biden: What the Data Shows

Donald Trump is once again blaming his predecessor, Joe Biden, for Americans’ higher prices.

President Donald Trump is blaming his predecessor Joe Biden for America's higher prices, stating that inflation and rising costs are a legacy of Biden's administration, not his own. In a recent post on Truth Social, Trump claimed that price increases throughout America were caused by "Sleepy Joe Biden and the Biden Administration."

However, recent data from the Bureau of Labor Statistics (BLS) suggest that inflation has cooled from its peak in 2022, while consumer sentiment has declined. While gasoline prices have surged due to global oil price disruptions, the overall picture of prices is more nuanced. Some products, such as eggs, have seen significant price drops, while others, like beef, remain expensive.

The discrepancy in prices highlights how individual products are affected differently by factors such as supply chain issues and domestic market dynamics. Trump recently announced a plan to waive tariffs on imported beef to address high grocery prices, which could lower costs for consumers.

Written by urgent.news from Newsweek's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

Read the original at newsweek.com →

More in Finance & Markets

More from Monday 14 September →