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President Donald Trump highlighted decreases in gas prices and groceries on Thursday on social media as he nears 100 days of his second term in office next week.
The president shared an economic update on Truth Social, which included a significant drop in egg prices.
“Gas and grocery prices are WAY DOWN, just like I said they would be. Eggs are plentiful, and down 87%. NICE!” he wrote.
According to AAA’s gas prices, the national average for a gallon of regular fuel is $3.171, a total of 2 cents lower than last week.
The average price is down from $3.731 per gallon on May 13, 2024.
Under former President Joe Biden, gas prices reached a record high average of $4.668 in July 2022. Prices were $2.420 when Trump left office in January 2021.
Some grocery prices have leveled off, with a notable decrease in inflation under Trump. However, many Americans struggle with food costs despite increased availability and lower egg prices.
The president’s reference to a significant decrease likely refers to wholesale prices. Last week, People.com reported that the average wholesale price for April 19 was $3.13 per dozen, down from $5.90 in February.
The update followed the president’s message of an improved economy for Americans last week.
“The United States is taking in RECORD NUMBERS in Tariffs, with the cost of almost all products going down, including gasoline, groceries, and just about everything else. Likewise, INFLATION is down. Promises Made, Promises Kept!” he wrote.
Overall inflation has declined nationally, though it remains higher than the Federal Reserve’s target. The Consumer Price Index (CPI) for March 2025 shows a 2.4 percent increase over the previous year, reports CNBC.
This is a decrease from the 2.8 percent reported in February 2025. While the overall inflation rate is down, the core inflation rate, which excludes food and energy prices, also decreased.
Council of Economic Advisers Chair Stephen Miran recently noted, “That core inflation print, on an annual basis, was the lowest core inflation print since March of 2021, so President Trump’s policies are working at keeping inflation at bay, keeping inflation down. Between that and what’s going on with trade — America is back.”
