Press Releases

Today, one year since President Trump began his term, the Joint Economic Committee – Minority released a new report finding that during his first year in office, families spent $1,625 more on average due to inflation. 

During his campaign, Trump repeatedly pledged that his administration would “end inflation,” and falsely claimed just recently that “inflation is stopped” and “prices are down.” However, this new Committee analysis shows that in 2025, the average household spent $1,625 more across the board – including over $320 more in housing costs and over $240 more on transportation costs. The Committee also calculated state-by-state data, finding that the average inflation cost per family in 2025 was at least $1,000 more in 47 states and Washington, D.C., with households in some states paying almost $2,400 more.

“President Trump repeatedly promise to lower prices, and he broke that promise,” said Rep. Don Beyer, Senior House Democrat on the Joint Economic Committee. “American families spent over $1,600 more on goods and services on average over the past year than they did the previous year. Health care costs are skyrocketing. Prices for groceries and electricity are shooting up. Housing and transportation costs are rising rapidly. Trump has failed miserably in the fight against inflation, and despite the fact that it is Americans’ biggest concern today, Trump does not even seem interested in doing anything about it. Worse, his policies – from tariffs to health care cuts to bad price-raising energy policies – are making it worse.”

“President Trump has imposed reckless tariffs, driven up health care costs, and created economic uncertainty. And because of these choices that he made, Americans are paying over $1,600 more than when he came into office,” said U.S. Senator Maggie Hassan, Ranking Member of the Joint Economic Committee. “While the President pledged that he would end inflation and now claims that prices are down, the data reflects what families are experiencing every day: higher costs that make it harder to make ends meet.”

Read the full report here, which includes state-by-state data on the increase in household costs over Trump’s first year.