"President Trump campaigned in 2024 on promises to end inflation, bring back manufacturing jobs and deliver an economic boom. A year after he returned to the White House, he has yet to deliver on those pledges. Still, there has been progress in some areas, and the economy has proved surprisingly resilient. Here are eight of the promises Mr. Trump made as a candidate, and where things stand after his first year back in office."
"Prices are down for a few specific grocery categories, like eggs, but are up sharply in others, like beef. Overall, food inflation has slowed significantly since peaking in 2022, but it has actually picked up somewhat since Mr. Trump returned to office December saw the biggest one-month increase in grocery prices since 2022. Mr. Trump often went even further on the campaign trail, promising to bring down the prices of all goods."
"Economists say that was never credible and, indeed, outright declines in prices, known as deflation, are generally a sign of a deep economic slump. But they say inflation might have cooled more this year if Mr. Trump hadn't imposed tariffs on a broad range of imported goods. Gas prices have fallen under Mr. Trump, though not to the sub-$2 level that he promised on the campaign trail."
President Trump campaigned in 2024 promising to end inflation, bring back manufacturing jobs and deliver an economic boom. A year after his return to the White House, those pledges remain unmet, though some progress has occurred and the economy has proved resilient. Food inflation slowed since its 2022 peak, with prices down for items like eggs and up for others like beef; grocery prices rose notably in December. Economists say promises to cut all prices were not credible and warn deflation signals a deep slump. Tariffs on many imports may have kept inflation higher. Gas prices fell but did not reach the sub-$2 promise; the EIA reported average regular gasoline at $2.78 in early January.
Read at www.nytimes.com
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