'Costs are down!' Trump declares inflation 'solved' as gas and grocery prices soar

President Donald Trump has declared inflation “solved” as Americans are paying more for everyday goods like gas and groceries.

“I’ve already solved inflation,” Trump told “Fox & Friends” on Friday morning. “Costs are down.”

Inflation is now the highest it’s been since January, according to CNBC.

“Look at the energy costs,” he added. “You’re gonna have $2 gasoline pretty soon.”

The national average price of gas as of Friday is $3.19, according to AAA. Nationwide, prices are as high as $4.65 and as low as $2.71.

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The president went on to boast, “I’ve solved just about every problem.”

But statistics from the U.S. Department of Labor show Americans are paying more—in some cases far more—at the pump and at the checkout line.

“Inflation inched higher last month as Americans closed out the summer paying more for both groceries and gasoline,” NPR reported on Thursday. “Consumer prices in August were up 2.9% from a year ago, according to a report Thursday from the Labor Department. That’s a sharper annual increase than the previous month, when inflation was clocked at 2.7%.”

During the 2024 presidential campaign, Donald Trump vowed to lower prices “on day one.”

Yet, due in part to his sweeping tariffs, “Virtually all major grocery categories are now more expensive than they were a year ago, some substantially so,” according to Axios. “This was the biggest month-over-month increase since August 2022, the tail end of a year of huge monthly increases in grocery prices.”

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The price of coffee is up nearly 21%, the price of uncooked beef steaks is up nearly 17%, apples are up nearly 10%, and bananas are up almost 7%.

Overall, the cost of groceries in August was up 0.6% over July’s prices, and the price of gas jumped 1.9% in just one month, according to NPR.

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