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President Donald Trump marked the one-year anniversary of his 2024 election victory on Tuesday by praising what he described as major gains in affordability since taking office in January 2025.
In a Truth Social post, the president celebrated the milestone, writing, “Happy Anniversary! On this day, November 5th, one year ago, we had one of the Greatest Presidential Victories in History — Such an Honor to represent our Country.” He pointed to what he called a “BOOMING” economy and noted that prices are falling. “Affordability is our goal,” he said. “Love to the American People!”
President Trump took office after a period of steep price increases under former President Joe Biden. Gasoline reached an average of $5.01 per gallon in the summer of 2022, egg prices jumped 147 percent, and inflation climbed to the highest rate in more than four decades at more than nine percent. By late 2023, the average household needed an additional $11,434 per year to maintain the same standard of living, according to Breitbart News.
Since January, inflation has eased more than expected, and the White House says the cost of living has improved in several areas. Gas prices fell to their lowest level for any October since 2020, with the national average on Wednesday at $3.07 per gallon. Mortgage rates have declined since January, and rent growth is at its slowest pace in more than four and a half years, the report added.
The administration also promoted a tax bill that President Trump referred to as the “big, beautiful bill.” The legislation included no tax on tips, overtime or Social Security, and increased “take home pay for a typical hardworking family by OVER ten thousand dollars a year.”
Food costs, which became a source of frustration during Biden’s term, have also slowed. Egg prices, which surged during the Biden years, have dropped sharply. Walmart announced that the cost of its annual Thanksgiving meal basket will fall to less than $4 per person this year.
Trump contrasted the economic picture with events in New York City, where voters elected Zohran Mamdani as mayor. Trump criticized the outcome, saying the city would have “ZERO chance of success, or even survival!”
On Election Day, Trump urged voters to support Republicans if they want continued relief from high costs. “If affordability is your issue, VOTE REPUBLICAN! Energy costs, as an example, are plummeting — Getting close to 2 Dollar a gallon gasoline. When energy goes down, everything else follows, and it has!!!” he wrote.
