Former President Donald Trump, while speaking to a crowd in Asheville, North Carolina, declared his intent to tackle inflation should he be re-elected as president. In a statement addressed to his audience, Trump vowed to sign an executive order directing every cabinet secretary and agency head to use all available tools at their disposal to defeat inflation and bring consumer prices down rapidly.
This announcement comes after the Bureau of Labor Statistics reported that inflation rose in July with the consumer price index increasing from a year ago to 2.9. This follows an increase by three percent in June from a year ago as well. Trump emphasized his commitment to address this issue, stating that they would work to lower prices and make American life affordable again.
During a recent interview with Tesla CEO Elon Musk, Trump discussed the rise in grocery prices under the current administration, noting how many people do not have the financial means to afford even a cart of groceries. According to TheStreet, food prices saw an increase of 6.3% in 2021 and rose by 10.4% in 2022 under the Biden administration. In 2023, it was reported that the increase in food prices had slowed down to 2.7.
This issue appears to be a top concern for Americans, as evidenced by a recent YouGov poll which found that 77% of respondents considered inflation a “very important” matter. Additionally, a Financial Times poll revealed that 78% of voters identified inflation as one of their top sources of financial stress.
Former President Trump’s plan to tackle inflation includes directing every cabinet secretary and agency head to use all available tools and authorities at their disposal to defeat inflation and rapidly lower consumer prices. His administration’s approach would be a “whole of government effort,” aiming to raise the standard of living and make American life affordable again.
Inflation has been a significant concern for many Americans, with grocery prices seeing sharp increases under the current administration. Trump’s pledge to address this issue could resonate with voters who are feeling the financial strain caused by rising costs, potentially bolstering his campaign should he decide to run for office again.