Article Summary –
President Donald Trump claimed that concerns over an affordability crisis were exaggerated, despite a Bureau of Labor Statistics report detailing a 3.4% inflation rate and a significant rise in fuel oil prices. While Trump promised to lower prices and end inflation during his presidential campaign, his imposition of tariffs and military actions against Iran contributed to increased retail and gasoline prices, contrary to his promises. A Harris Poll indicated that a significant majority of Americans perceive an affordability crisis, with 95% acknowledging its existence and 57% feeling the economy is worsening.
President Donald Trump asserted at the Republican mid-term convention in Dallas on Sept. 9 that claims of an affordability crisis were fabrications. Shortly after, the Bureau of Labor Statistics published a report indicating a 3.4% inflation rate over the previous year, with fuel oil prices surging over 50%.
“They used the word affordability. Right? It’s fake,” Trump stated. “They caused the price, but we’re fixing it,” he continued, promising a reduction in prices.
During the 2024 presidential campaign, Trump frequently vowed to tackle inflation and decrease consumer prices if reelected.
“We have an inflation crisis,” he declared in his 2024 GOP nomination speech. “I will end the Inflation Crisis immediately… we will drill, baby, drill, leading to lower prices.”
In 2025, Trump imposed tariffs on most imports, resulting in increased retail prices.
In February, Trump’s military actions in Iran led to blocked oil shipments through the Strait of Hormuz, causing gasoline prices in the U.S. to rise.
According to AAA data, the national average gas price on Sept. 14 was over $4.31, up from $3.12 in January 2025, marking a 38% increase.
“The hoax is Democrats blaming inflation while creating the mess,” a White House spokesperson commented. “Reducing Joe Biden’s inflation crisis has been a Day One priority for President Trump,” with targeted policies yielding month-over-month price drops in beef, drugs, and car insurance.
A Harris Poll for the Guardian, released in July, showed 95% of Americans believe there is an affordability crisis, while 57% feel the economy is worsening.
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