Trump credits his policies as inflation drops, declares economy ‘back on track’

WASHINGTON, DC: President Donald Trump praised the latest inflation numbers as he departed the White House on Friday, February 13, heading to Fort Bragg with First Lady Melania Trump. 

Speaking briefly to reporters on the driveway, Trump highlighted January’s Consumer Price Index (CPI) report, which showed inflation at 2.4% year-over-year. He emphasized that the numbers reflect a significant improvement from the previous administration, claiming that inflation is “back on track” after reaching historic highs.

Trump and the White House on inflation and wages

Trump stated, “We just got very good financial numbers, very low inflation. We brought costs way down, and the numbers were surprising. Except to me, they weren’t surprising. So the inflation numbers that just announced, as you know, are way down. And we have it back in track."

Trump then rebuked former President Joe Biden for his handling of the economy, saying, “We had the worst inflation in the history of our country, and now we have very modest inflation, which is what you want to have.”

Reports indicate that core consumer prices, which exclude food and energy, increased 2.5% compared with a year ago and 0.3% from the previous month, representing the lowest level of core inflation since March 2021.

The White House also reported that real wages increased by $1,400 for private-sector workers in Trump’s first full year back in office, countering what the administration called “Bidenflation,” which had eroded Americans’ purchasing power.

Deputy Press Secretary Kush Desai stated, “Today’s expectation-beating CPI report proves that President Trump has defeated Joe Biden’s inflation crisis: overall inflation fell, and real wages grew by $1,400 in President Trump’s first year in office.”

Housing inflation continued to cool, and prescription drug prices declined in 2025, with further relief expected through initiatives like the Most Favored Nation drug pricing deals and the Great Healthcare Plan.

Trump’s economic record and affordability concerns

Treasury Secretary Scott Bessent attributed these gains to Trump’s policies, saying, “Joe Biden crashed the economy…21.5 percent cumulative inflation, loss of real purchasing power.”

Bessent further emphasized that real wage growth and price reductions are key to improving affordability, predicting continued economic strength in 2026. January’s inflation of 2.4% is down from December’s 2.7% and close to the Federal Reserve’s 2% target, signaling a cooling trend.

Despite this decline, prices for food, gasoline, and apartment rents remain significantly higher than pre-pandemic levels, with overall consumer prices approximately 25% higher than five years ago.

As the midterms approach, Trump has repeatedly told Americans that consumer prices are falling "tremendously," aiming to ease voter concerns about the cost of living in the US. During a speech at a casino in Pennsylvania in December, the president told supporters he had "no higher priority than making America affordable again."

Trump has also defended his administration’s economic record, arguing that concerns about affordability have been exaggerated. He believed the term "affordability" was a "hoax" perpetrated by Democrats.