What were annual inflation rates under Biden, Trump, Obama, and George W. Bush year-by-year?
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Executive summary
Year-by-year CPI inflation numbers by calendar year are reported by the Bureau of Labor Statistics and summarized in many outlets; available reporting shows inflation peaked near 9.1% in mid‑2022 during Biden’s term and had fallen to roughly 2.9% by December 2024 (Biden’s last full month) and to about 3% under President Trump in 2025 (depending on the measure) [1][2][3]. Compilations and averages differ: Investopedia reports average annual inflation under Obama was about 1.46% while multiple Trump/Biden comparisons quote multi‑year averages [4][5].
1. What the public numbers are and where they come from — CPI is the standard
The commonly cited annual inflation figures come from the Consumer Price Index (CPI) released by the Bureau of Labor Statistics; journalists and fact‑checkers then aggregate those monthly year‑over‑year CPI changes into calendar‑year or presidential‑term averages. Reporting highlights that the single largest year‑over‑year jump in the Biden presidency was roughly 9% in 2022, and that the year‑over‑year CPI fell to about 2.9% by December 2024, Biden’s last full month in office [6][2][1].
2. Biden: big spike, then a sharp decline — the headline story
Coverage emphasizes that inflation surged in 2021–2022 as pandemic recovery, stimulus and supply shocks converged, producing a roughly 9.1% year‑over‑year peak in 2022; by December 2024 the headline CPI was about 2.9% year‑over‑year, reflecting significant declines after aggressive Federal Reserve rate hikes [6][1]. FactCheck notes CPI rose about 21.5% across Biden’s four years in cumulative terms, a different framing than annual rates [6].
3. Trump (first term) vs. Trump (second term) — different baselines, different claims
Comparisons in 2025 reporting note that inflation during Trump’s earlier presidency was modest; under Trump’s second term in 2025 reporting showed overall inflation running “around 3%” year‑over‑year and core inflation (excluding food and energy) near 3.0% in some months — improvements relative to Biden’s 2022 peak but still subject to volatility and measurement choices [3][7]. White House statements from the Trump administration present a lower multi‑year average for 2025 (2.7%), but that is a political framing and media outlets treat it as a claim to be vetted [8][9].
4. Obama and George W. Bush — low averages, but context matters
Historical compilations show lower average inflation during Obama’s two terms; Investopedia reports an average year‑over‑year inflation of about 1.46% under Obama, reflecting the low‑inflation post‑Great Recession era [4]. For George W. Bush, available summaries note episodes such as the early‑2000s shocks (9/11) and mid‑decade pressures like Hurricane Katrina, but the specific year‑by‑year CPI list is not reproduced in these snippets; Investopedia’s longform piece compiles presidential‑era averages and context [4].
5. Why exact year‑by‑year tables differ across outlets
Different stories use different measures (monthly vs. calendar‑year averages, headline CPI vs. core CPI, presidential‑term averages vs. calendar‑year figures). For example, some analyses emphasize cumulative CPI change across a president’s term (FactCheck’s 21.5% under Biden), others report averages per year or single worst‑month peaks [6]. Media and administration statements also choose windows that best support their narratives — the Trump White House emphasizes a 2.7% 2025 average while fact‑checkers and outlets point to December 2024’s 2.9% and mid‑2022’s 9% peak [8][2][1].
6. Competing explanations and political framing
Sources present competing interpretations: some attribute the Biden‑era spike to pandemic stimulus and supply shocks [1][10], while Trump officials credit their 2025 policies for lowering inflation [8][9]. Independent outlets and fact‑checkers caution that short‑term declines do not erase earlier rapid price increases and emphasize measurement choices — e.g., core vs. headline inflation and month‑to‑month volatility [3][6].
7. Limitations and next steps for readers who want the exact table
This briefing relies on the provided reporting and summaries; it does not reproduce a complete year‑by‑year CPI table because the supplied snippets summarize trends and averages rather than listing every calendar year’s CPI rate for each presidency. For a precise, year‑by‑year list by calendar year and presidential term, consult the BLS CPI time series or the full Investopedia compilation cited here [4][6].
If you want, I can extract a calendar‑year CPI table for each year 2001–2025 from the BLS sources referenced in these articles and present it as a clean year‑by‑year list with citations.