But another inflation shock may be coming, thanks to Trump himself. While Trump has dialed back his most aggressive tariffs on imports, substantial tariffs still remain in place.

President Donald Trump has insisted that prices are falling, even as consumers continually express concern about the economy. He has repeatedly attacked Federal Reserve Chair Jerome H. Powell for not lowering interest rates to offset the effects of his trade war.

Trump claimed last month that gasoline prices had fallen as low as $1.98 in a couple of states. On Friday, Trump voiced a similar assertion on social media, saying, "Gasoline just broke $1.98 a Gallon, lowest in years."

Tuesday’s report could provide an early read on how Trump’s duties will affect the prices Americans pay for necessities.

President Donald Trump falsely claimed Tuesday that he warned during his 2024 campaign that his tariffs would require Americans to experience the challenges of a “transition period.”

The move would align prescription costs in the US with the costs of other countries, according to the administration.

Trump’s post is undercut by prior social media posts where he took credit when the stock market boomed under President Joe Biden in January 2024.

Donald Trump has agreed to substantially roll back tariffs on China as the two nations continue to work toward a permanent trade deal.

Health policy experts said it is still unclear how much prices will go down, which medicines will be impacted and whether the effort can be implemented at all.

Initial unemployment claims jumped to 241,000 for the week ending Monday ... as companies rushed to stockpile goods due to Trump's chaotic rollout of new tariffs. The GDP decline marks the first quarterly contraction since early 2022 and was a dramatic ...

In this video, we unpack Trump's peace promises across major global conflicts — Russia-Ukraine, Israel-Hamas, and the India-Pakistan tension — and what the ground reality looks like now.