U.S. President Donald Trump speaks at the Detroit Economic Club in Detroit, Michigan, U.S., January 13, 2026. REUTERS/Evelyn Hockstein
The price of food in grocery stores and restaurants surged to a three-year high last month, even as President Donald Trump on Tuesday insisted he had “defeated” inflation during what he described as “the greatest first year in history” of any president.
“Grocery prices are starting to go rapidly down,” Trump told an audience in Detroit on Tuesday. CNN’s Daniel Dale noted Trump made the claim “on the same day new Consumer Price Index data shows December had the biggest one-month spike in grocery prices, 0.7%, in more than three years.”
Despite the president’s claims, Axios reported that the cost of food in grocery stores rose “roughly 2.4 percent in December compared to the prior year.”
“But that masks double-digit price increases for a slew of household staples over the past 12 months, including coffee (+20 percent), beef (+16 percent) and candy (+10 percent).”
Delivering his speech on affordability — which as recently as last month he declared a “hoax” — Trump said on Tuesday, “Under our administration, growth is exploding, productivity is soaring, investment is booming, incomes are rising, inflation is defeated, America is respected again, like never before.”
On tariffs, which experts say could increase prices for American families by nearly $5,000 annually and push nearly one million Americans into poverty, Trump pushed back.
“The evidence shows overwhelmingly that the tariffs are not paid by American consumers,” he said, a claim not supported by experts.
The White House on Monday said that Trump has been “laser-focused on making America affordable” since taking office. Just one month ago, President Trump called affordability a “hoax” perpetrated by Democrats.