In President Trump's first year of his second term, inflation fell from 3% year-over-year in January 2025 to 2.7% in December

President Trump's 2025 Tariffs added less inflationary pressure to the economy than expected in their first year

A year after the so-called "Liberation Day" in April 2025, tariffs have had a milder effect on inflation than feared—core goods prices have added only about 0.2% to the headline Consumer Price Index—but persistent policy uncertainty has rattled small business owners, who say the constant back-and-forth makes long-term planning difficult.

Track how American tariffs have impacted different countries and industries.

The highest inflation ever recorded in US history was estimated at 30% in 1778, just after the Revolutionary War.

See how the S&P 500 performed throughout the first 100 days of each modern presidency.

US inflation can generally be split into to two periods—before and after the Federal Reserve

A central bank itself does not mean significant inflation will occur, but economists generally point to factors like two world wars and the printing of money to finance the US federal deficit as primary drivers of price increases.

Wedding cost increases have outpaced inflation

The cost of the average US wedding rose by 13.79% between 2023 and 2024, whereas the inflation rate during the same time period was roughly 2.9%.

Prices can still feel high even if inflation is slowing

This is partly because a recent spike in inflation raised prices permanently, so even though the pace of price growth has slowed, prices have still gone up for good.

President Donald Trump's 2025 address drew 36.6 million viewers

President Trump's audience was about 13% higher than President Biden's 2024 address, but it fell short of Donald Trump's first-term State of the Union viewership, which consistently topped 37 million and peaked near 48 million in 2017.

See a chart showing how US tariff revenue has grown in recent years.

Auto and consumer goods companies absorbed billions in costs due to President Trump's 2025 tariffs.

Mapping projected food inflation across the world in 2026

Iran tops the list of hardest-hit countries with a projected 56% inflation on food prices in 2026, followed by Argentina (33%) and Turkey (25%). In the opposite direction is Niger, whose food inflation is expected to drop 18% as a result of strong harvests and financial stabilization. The global average of food inflation is expected to be 3%.

Coffee prices have reached record highs in 2026, with experts citing rising costs driven by war and tariffs.

The overall economic effect of President Trump's 2025 tariffs remains unclear

Researchers from UCLA and Yale found that tariff revenue and gains to US producers largely offset importers' costs—but the broader picture is murkier, as the trade deficit rose, manufacturing jobs declined, and 90% of tariff costs were passed through to importers rather than absorbed by foreign exporters.

Beyond oil, the Iran war has pushed up costs on fertilizer, prescriptions, and mortgages.

How key commodities have performed since 2019, visualized

Due in part to factors such as the COVID-19 pandemic and global supply chain issues, commodities experienced significant volatility from 2019 to 2025. For instance, coffee bean prices saw major swings in recent years due to climate challenges in countries including Brazil and Vietnam.

The average grocery trip in 2025 totaled $150.84, up 3.6% from the previous year

That's according to data from Consumer Affairs. Some prices, like for specific sodas and breakfast cereals, increased by more than 20% over the same time period.

Average three-month CD rates reached a historical high of 18.65% in December 1980

Comparatively, average three-month CD rates reached a low of 0.09% in June 2021 amid the economic turmoil of the COVID-19 pandemic. When inflation began to rise in 2022, the Fed began initiating rate hikes to incentivize saving.

Is Domino’s pizza inflation-proof?

A Big Mac Extra Value Meal is nearly $11 in 2025, compared to $4.59 in 1993. A Taco Bell crunchy taco costs $1.79 today, but was only 59 cents in 1990. Inflation impacts the price of many fast-food items—but the price of a Domino's pizza hasn't changed much at all in the past two decades.

DOGE's claim of saving more than $64B lacks evidence

In the first month of President Donald Trump’s second term, his new Department of Government Efficiency celebrated slashing billions in federal spending and chopping away at the national debt. An article from the Poynter Institute’s fact-checking website digs into the numbers to investigate these claims.

The Federal Reserve targets 2% inflation

It’s an arbitrary number originating from an offhand comment made by a New Zealand policymaker. The real objective is to maintain predictable prices for businesses and families to plan around while avoiding the dangers of deflation.

Inflation is a monetary phenomenon in which consumers see a broad rise in the prices of goods and services across the economy over time

Sustained periods of inflation are often caused by central bank policies including low interest rates or increased money supply. With more money chasing the same number of goods and services, prices tend to rise and the value of a single dollar drops.

Roughly 75% of Americans report feeling okay financially

Since 2022, fewer Americans report feeling worse off financially, moving from 35% in 2022 to 28% in 2025. Likewise, the number of Americans who reported feeling better about the economy is up 4% from 2022. More than 90% of Americans cite price increases as their biggest financial concern.

What issues Americans are prioritizing in 2022

Inflation, Crime, and Abortion—see a breakdown of voter preferences by age, race, and gender, along with what topics are top of mind for Americans.

Fast-food prices have increased more over the past 10 years than both full-service restaurants and inflation.

US cities where inflation is rising the most

WalletHub compared 22 major metropolitan areas to see how inflation has risen in the last year using the Consumer Price Index, which describes the average cost of a basket of goods. As of April 2024, Honolulu, Hawaii, clocked in with the greatest year-over-year change in prices, with inflation close to 5%. See the full list here.

China had an inflation rate of -0.4% in August 2025

As opposed to other G20 countries that are largely struggling with high inflation rates, China is facing deflation. Sluggish growth in the country's once booming real estate market is just one glimpse into the consumer slowdown triggering deflation.

Disinflation, a decrease in the rate of inflation, is different from deflation

Disinflation happens when prices are still going up, just at a slower rate. Prolonged disinflation is also often accompanied by a recession, making it painful for consumers.

H-1B approval rates have swung sharply between administrations

Denial rates for new H-1B petitions rose from 6% in 2015 to 24% under the Trump administration as officials tightened standards. Under Biden, approvals rebounded, with denials falling to just 2% by 2022—the lowest since 2009.

Venezuela is experiencing hyperinflation

Consumer prices in the country have risen at a fairly quick rate since 1983, but a series of policy miscalculations, falling oil prices, and other factors have sparked extreme levels of inflation since 2017, with citizens losing faith in the value of the national currency.

A majority of Americans think President Trump is using more power than previous presidents

An October 2025 Pew Research Center survey found that 69% of Americans believed President Trump was trying to exert more power than previous presidents. Most Democrats viewed it negatively, while about half of Republicans said it was good for the country.

'Floating rate' loans periodically adjust their interest rates in accordance with economic conditions

When the Federal Reserve began raising interest rates in 2022 to combat inflation, interest payments borrowers owed to private credit lenders increased accordingly. Private credit funds benefited as loan returns increased, making the asset class attractive to investors at the time.

Inflation explained in under 3 minutes

Keep seeing inflation in the news, but don't have a great grasp on what it means or how it works? This overview from 1440 breaks down how economists think about inflation, what it means for the average consumer, and how governments attempt to keep rising prices in check through various policies.

Unless prices of fossil fuels rise significantly, their production is expected to slow

US oil and natural gas production skyrocketed from 2000 to 2020, largely due to advances in fracking. However, weak global energy prices have prevented this boom from translating into increased profits for fossil fuel companies.

'Loveflation' is making dating more expensive and less frequent

A survey found that more than half of Americans are going on fewer dates due to rising costs, with 27% stopping altogether. Gen Z and millennials are the hardest hit, with 62% reporting changes in their dating habits due to inflation.

The factors stirring up a home insurance storm

The cost of the average home insurance premium shot up 33% between 2020 and 2023 in the US, a trend mimicking heightened inflation. But beyond the cost, insurers are also pulling out of major markets like Florida and California, and millions of policies aren't being renewed as the number of $1B weather disasters continues to increase each year. Read up on the difficulties the home insurance market faces here.

The 2020 and 2024 elections ranked among the highest-turnout contests in over a century

Voter turnout reached 66% in 2020—the highest since 1908—and 64% in 2024, tied for second-highest with 1960. In 2024, Trump benefited from higher turnout among his prior voters and new voters.

Economists define deflation as a sustained decline in prices across an economy

Deflationary periods are characterized by broad, significant price declines. The Federal Reserve can monitor deflation by tracking prices through price indexes, such as the Consumer Price Index (CPI), which characterizes the average costs for consumers each month.

'Good deflation' happens when prices naturally track with supply, meaning prices change gradually

This tends to make products and services more affordable and normalizes the standard of living. Bad deflation usually happens when there are sudden changes to either supply or demand. Near-zero [interest rates helped create the real estate bubble that sparked the Great Recession when it crashed](https://www.youtube.com/watch?v=LMo9mD8j7IA&t=91s) Because deflation distorts the value of money, deflation is particularly harmful for borrowers. Low interest rates made it easy for businesses and everyday people to take on enormous debt, which exacerbated the effects of the recession.

Most White House renovations have cost no more than $10M.

The storied residence of the US president has undergone many overhauls in its day, from rooftop fixes to bowling alley and pool installations. The majority of the renovation projects came in under $10M. President Trump's expansion of the West Wing, primarily funded by private donations, would cost more than $200M.

See how 30-year fixed mortgage rates have changed over time—from a 1980s peak of roughly 18%, to hovering around 3% during the COVID-19 pandemic.

Central bank independence is correlated with lower inflation on average

Executives may seek to influence the central bank to reduce interest rates for political points. Since its creation in the early 20th century, the US' Federal Reserve saw the most interactions from the president during the Nixon and Ford administrations.

Raising interest rates can help control inflation

While controlling a complex and dynamic economy is difficult, interest rates—more specifically, the rate at which banks lend each other money overnight—are a powerful tool. Generally, raising the rate makes purchases more expensive and cools an overheated economy.

In the 1970s, the US experienced a period of stagflation

It was characterized by high inflation, slow economic growth, and high unemployment. The crisis was triggered by a combination of factors, including loose monetary policy that spurred excess demand and spiraling oil prices caused by an OPEC embargo in 1973.

Donald Trump was impeached a second time for incitement of insurrection after Jan. 6

Following the Jan. 6, 2021, Capitol attack, the House impeached Trump for inciting violence against the US government. The Senate acquitted him on Feb. 13, 2021. He is the only president who has been impeached twice.

President Trump has changed decades-long norms for the DOJ during his second term

The Trump administration made changes to ethics oversight, instructed US attorneys to coordinate with the White House, dismissed cases, and overhauled the career hiring process in the Civil Rights division. The administration asserts these changes were justified and aimed to end what they claim as the weaponization of government.

Trump's 2025 tariffs represent a significant break from the rules-based trade order

The Trump administration imposed broad tariffs on other countries outside WTO rules in 2025, claiming that those countries had long violated trade agreements and that the US was simply leveling the playing field.

Why there's a snack recession

Inflation and economic uncertainty have driven many Americans to make cuts to their snack budgets, according to reports from major food manufacturers like General Mills, JM Smucker, and Campbell's. Major retailers have also observed lower-income consumers cutting back on nonessentials due to the macroeconomic environment.

How the stock market performed under every US president

It's worth noting that the stock market as we know it today didn't exist under the leadership of earlier presidents, such as George Washington and Thomas Jefferson.

Wedding costs have gone up significantly since the 2020 pandemic lockdowns

In 2020, the average cost of a wedding in the US was $19K—but by 2024, it had surged to more than $33K.

The average US adult spends roughly $195 on Easter

That's up from $189 in 2025 and the previous record of $192 in 2023. The vast majority of consumers intend to use it on candy (92%), followed by food (89%) and other gifts.