President Donald Trump said during his presidential address Wednesday night that his administration is “bringing our economy back from the brink of ruin,” saying it has brought down prices across the board.
“I’m bringing those high prices down and bringing them down very quickly,” Trump said from the White House. Diplomatic Chamber, and added: “Let’s look at the facts.”
He made sweeping claims about prices, from gas and groceries to airfare and flights to hotels, comparing the current price to that under former President Joe Biden’s administration.
But according to the most recent data from the Bureau of Labor Statistics, the president’s claims in some cases appeared exaggerated, false or unverifiable.
BLS is set to release updated numbers on Thursday that provide an updated view of Consumer prices: the first inflation report since the end of the government shutdown.
President Donald Trump delivers a speech to the Nation from the Diplomatic Reception Room of the White House, December 17, 2025.
ABC News
The president said that under Biden, gas prices increased 30% to 50%, hotel rates increased 37% and airfares increased 31%.
“Now, under our leadership, they’re all going down and down fast. Democratic politicians also drove up the cost of food, but we’re fixing that too,” Trump said.
Trump claimed that egg prices have dropped 82% since March and that “everything else is falling rapidly.”
ABC News has compiled fact checks on some of Trump’s claims.
gas prices
It’s true that gas prices hit an all-time high in June 2022 under the Biden administration, with an average price of $5.016 per gallon, according to AAA.
According to AAA, the new average is $2,998. That would be a decline of nearly 50% from the peak under the Biden administration.
But when gasoline prices are compared to those from just a year ago, from September 2025 to September 2024, the latest CPI report estimates that gasoline fell only 0.5%.
air ticket
Airfares rose 3.2% in September under the Trump administration compared to a year earlier, according to the Bureau of Labor Statistics.
Hotel rates
Hotel room rates fell 0.8% and car rental prices fell 5.0% over the past year, according to BLS data.
Groceries
The average price of a dozen Grade A eggs was $3.49 in September, down from an all-time high of $6.23 in March, a 43% decline, according to the Bureau of Labor Statistics.
It is also important to note that egg prices were greatly affected by the bird flu.
Overall, meat prices rose 8.5% last year, according to the Bureau of Labor Statistics.
Beef prices are at a record level: up 14.7% in the last year.
It should be noted that Trump also does not mention coffee. Coffee has risen 18.9%, According to BLS data from September, the most recent available. The price of coffee has risen partly over the president’s tariffs on places like Brazil — although last month the White House began exempting coffee from its tariffs.
ABC News’ Soo Youn, Zunaira Zaki and Elizabeth Schulze contributed to this report.
