Prices of Gasoline and Groceries Allegedly Decreasing, But Facts P paint a Different Picture; Trump Claims Improved Home Sales
In a recent statement, US President Donald Trump claimed a decline in housing, petrol, and grocery prices. However, current data fails to substantiate any of these assertions.
During a press conference, Trump was questioned about home sales and if it was a concern for him. He replied that there were very positive housing numbers. Contrary to this, a report from the National Association of Realtors (NAR) revealed that sales of existing homes are moving at their slowest pace since 2009, with a 5.9 percent decrease in March from the previous month.
The president also remarked that energy prices have dropped to $1.98 in certain states. While he didn't specify the energy source, his comments echoed his remarks from last week, where he notably mentioned petrol prices. According to AAA, the lowest average petrol price last week was $2.70 per gallon in Mississippi, with this week's lowest average reported at $2.68. However, individual station prices have been as low as $2.33 per gallon, still above the figure stated by the president.
Contrary to the president's claims, the national average petrol price currently stands at $3.17 per gallon, reflecting a five-cent increase from last month but a decrease from $3.60 at the same time last year.
In addition, Trump stated that grocery prices are decreasing. Recent data does not support this statement. The Department of Labor reported a 0.4 percent increase in food prices from last month and a 2.4 percent increase compared with the previous year. The price of eggs, which Trump mentioned had dropped, actually saw a 5.9 percent increase last month, with year-over-year increases of more than 60 percent. Beef and dairy prices also rose by 1.2 percent and 4 percent, respectively. Prices for fruits and vegetables slightly decreased, however, by 0.5 percent.
As per the Department of Labor, overall energy prices have decreased by 2.4 percent over the past month, largely due to falling petrol prices. Oil prices have generally declined since Trump took office, primarily due to economic uncertainties caused by his tariff threats.
- The president's statement about positive housing numbers contradicts a report from the National Association of Realtors, showing a 5.9% decrease in sales of existing homes.
- The president claimed a decline in petrol prices, but the national average remains at $3.17 per gallon, with a five-cent increase from last month.
- Contrary to the president's claim, the Department of Labor reported a 0.4% increase in food prices last month, with eggs seeing a 5.9% increase.
- Trump stated that grocery prices are decreasing, but the Department of Labor reported a 2.4% increase in food prices compared with the previous year.
- Despite Trump's comments, individual petrol station prices have been as low as $2.33 per gallon, still above the figure stated by the president.
- The president's statements on energy prices echo his remarks made last week, noting a drop in petrol prices. However, the lowest average petrol price last week was $2.70 per gallon in Mississippi.
- The Department of Labor reported an overall energy price decrease of 2.4% over the past month, primarily due to falling petrol prices, which have generally declined since Trump took office.
- The president's statements on business and economy, including petrol, grocery, and housing prices, face criticism and skepticism in the realm of policy-and-legislation, general news, finance, and education, as well as public opinion.
