Fact check: Why is Donald Trump lying saying inflation is down

1. Summary of the results

The analyses reveal a complex picture regarding Donald Trump's claims about inflation. Current economic data contradicts the assertion that inflation is definitively "down." According to official government statistics, the annual inflation rate in the US actually rose to 2.4% in May 2025 from April's 2.3% ^[1], and the Consumer Price Index increased 0.1 percent on a seasonally adjusted basis in May ^[2]. The personal consumption expenditures price index shows an annual inflation rate of 2.3%, which while close to the Federal Reserve's target, still does not support claims that inflation is declining ^[3].

However, conflicting narratives exist about Trump's actual statements. One White House source claims that "core inflation is at its lowest level since March 2021, and wage growth remains strong under President Trump" ^[4], while another source indicates Trump has actually "acknowledged 'inflation is back' but blames Biden" ^[5]. The analyses also reference fact-checking of Trump's claims about inheriting an "inflation nightmare," noting that inflation peaked at 9.1% in 2022 under President Joe Biden but has since decreased ^[6].

2. Missing context/alternative viewpoints

The original question lacks crucial context about when and where Trump allegedly made these statements about inflation being down. The analyses reveal that Trump's actual position may be more nuanced - he has acknowledged that "inflation is back" while attributing blame to his predecessor ^[5].

Multiple stakeholders benefit from different inflation narratives:

• Political figures like Trump and Biden benefit from framing inflation data to support their respective policy positions
• The current administration benefits from highlighting any improvements in inflation metrics ^[4]
• Economic analysts and media outlets benefit from generating engagement through conflicting interpretations of the same data

The analyses also reveal that Trump's proposed solutions face public skepticism, and his tariff policies may actually exacerbate inflation ^[7], providing important context about the potential consequences of his economic policies.

3. Potential misinformation/bias in the original statement

The original statement contains several problematic assumptions. It presupposes that Trump is definitively "lying" without establishing what specific claims he made or when he made them. The analyses suggest this characterization may be oversimplified, as sources indicate Trump has actually acknowledged inflation concerns rather than consistently claiming it's down ^[5].

The question also lacks temporal specificity - inflation trends vary significantly over time, and the analyses show that while inflation peaked at 9.1% in 2022, it has since decreased but is currently experiencing slight increases ^{[6] [1]}. Without knowing exactly when Trump made these alleged statements, it's impossible to determine their accuracy.

Furthermore, the framing assumes malicious intent ("lying") rather than considering alternative explanations such as selective use of data, different time frames for comparison, or focus on specific inflation metrics like core inflation versus headline inflation. The analyses reveal that economic data can be interpreted differently depending on which metrics and time periods are emphasized ^{[4] [3]}.