Former President Joe Biden took office for most of January, with inflation rising, and White House officials told Breitbart News that President Donald Trump “quickly cancels the lingering damage to the last administration's economic policy. “It's.”
The Labor Department announced Wednesday that its Consumer Price Index (CPI) has risen .5% since December, but has risen 3% since January 2024, Breitbart News said.
Both Biden and Trump were at the helm at the point in January, with Biden being the president for the first 19.5 days of the month, and Trump became president in the last 11.5 days.
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“President Trump has quickly revoked the prolonged damages of Biden's failed economic policies that have created the worst economic crisis in history for the past four years and have been burdened by hardworking Americans,” White House officials said. He said in a statement to the news.
“In just three weeks, President Trump worked on rampant spending, creating Doge to end taxpayer-funded fraud and abuse, putting pressure on Congress to create a balanced budget, and the US was able to create a US budget. We have reduced regulations to restore energy control,” the official added. “Just as he did in his first term, President Trump will continue to take unprecedented actions, lower prices and enter a new golden age.”
The Biden administration oversaw 40 years of inflation that financially crushed Americans across the country. For example, eggs saw a price increase of a whopping 106% between January 2021 and January 2025.
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During the same period, utility costs rose 31%, gas surged 35%, groceries rose 23%, used cars jumped 21% and 18% respectively, and housing services increased 25%.
Information provided by management officials shows that inflation averaged 1.9% over Trump's first administration and the past four years, an average of 5%. Additionally, inflation met or exceeded 3% in 39 of Biden's 48 months, but did not exceed that number in Trump's first term.
