What was the annual US inflation rate each year during Donald Trump's presidency?
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Executive summary
Donald Trump’s first presidential term (2017–2020) coincided with historically low inflation averaging about 1.9%–2.5% depending on the calculation; after he left office inflation surged in 2021–2022 to a peak around 8.0% , then moderated in subsequent years (2023: ~4.12%; 2021: 4.70%) according to compiled CPI series and data aggregators [1] [2]. Official BLS time series provide the underlying monthly/annual CPI figures that produce those calendar-year rates [3] [4].
1. What the official numbers show: year-by-year CPI inflation during Trump’s presidency
Available sources list annual U.S. CPI inflation rates by year; during Trump’s four years in office annual CPI inflation was low and stable — multiple compilations and BLS-based tables show modest rates in 2017–2020 and much higher rates after his term — the authoritative BLS series is the primary source for the annual 12‑month CPI changes (use data at the BLS time series page) [3] [4]. Macrotrends and similar aggregators report 2021 at about 4.70% and 2022 at about 8.00%, illustrating how the calendar-year inflation profile changed after 2020 [1].
2. The short answer taxpayers usually want: Trump years were low-inflation years
Analysts and fact-checkers note that inflation averaged roughly 1.9%–2.5% annually through Trump’s first term when measured as year-over-year CPI changes ending in calendar months; for example, FactCheck.org reported the CPI rose an average of 1.9% each year of the Trump presidency when measured by the 12‑month change ending each January, and Investopedia similarly documents an average near 2.46% for Trump’s first term [5] [6]. These figures rely on BLS CPI calculations, reflecting steady price growth before the pandemic shock and the post‑2020 spike [4].
3. Why inflation jumped after Trump left office — and how that affects comparisons
Multiple sources tie the 2021–2022 jump to pandemic-era factors and global supply shocks rather than a single administration’s immediate actions: the CBO and World Economic Forum cite COVID disruptions, fiscal responses, and supply/demand imbalances as major drivers of the 2021–2022 surge that produced the 8.3%/8.0% range reported for 2022 in several datasets [7] [8]. Macrotrends and other CPI compilations show 2021–2022 as an inflection point [1].
4. Different measures and timeframes produce different narratives
Reporters and fact‑checkers emphasize that conclusions depend on the measure (CPI vs. PCE, headline vs. core) and the exact time window used. The Federal Reserve prefers PCE; the BLS CPI is most commonly cited in year‑by‑year tables. Some outlets and the White House cite “core” inflation or short-run monthly trends to argue inflation fell under Trump’s second‑term actions in 2025, while independent fact-checks and local analyses note year‑over‑year headline CPI was roughly 3.0% by September 2025 — comparable to late‑2024 levels — showing mixed signals depending on the metric [4] [9] [10].
5. Politics, messaging and what to watch for in the data
Official releases are straightforward but political actors emphasize selective measures. The White House uses core inflation and month‑to‑month annualized figures to argue progress under Trump, claiming core inflation tracked near 2.0–2.1% (their press releases), while independent fact‑checkers and local news point out headline year‑over‑year inflation ticked to about 3% in 2025 — slightly above the 2.9% rate at the end of Biden’s term — showing the political utility of choosing measures [11] [10] [9].
6. How you can verify the exact year-by-year values
For a definitive year‑by‑year list during any presidency, consult the BLS annual CPI tables or the BLS time‑series endpoint (the official source for the CPI‑U 12‑month percent change) and cross‑check with compiled historical tables from macro data providers like Macrotrends or Investopedia, which pull from BLS data [3] [1] [6]. The BLS inflation calculator and time‑series downloads let you compute the precise calendar‑year percentages cited above [4].
Limitations and caveats: available sources do not provide a single canonical table in this packet listing each calendar year 2017–2020 in one line; readers should use the BLS time series [3] or reputable aggregators [1] to extract exact annual percentages. Different methodologies (CPI vs. PCE, monthly‑ending vs. calendar‑year averages) will change the headline number and the political storyline [4] [12].