President Donald Trump has insisted that prices are falling, even as consumers continually express concern about the economy. He has repeatedly attacked Federal Reserve Chair Jerome H. Powell for not lowering interest rates to offset the effects of his trade war.

President Donald Trump filled his first 100 days back in office with the same relentless dishonesty that was a hallmark of his first presidency and his 2016 and 2024 presidential campaigns.

Tuesday’s report could provide an early read on how Trump’s duties will affect the prices Americans pay for necessities.

Even so, a rollback of some levies since "Liberation Day" may reduce the impact on inflation. Trump paused a large swath of so-called "reciprocal tariffs" within days of the announcement. On Monday, Trump temporarily slashed tariffs on China from 145% to 30%.

Price growth has cooled, including in key areas like groceries, but analysts say Trump's evolving trade war has made it harder to get a clear read on the economy.

President Donald Trump has falsely claimed this week that grocery prices are “going down” and “are down.” In fact, grocery prices have continued to rise under Trump – and they were up even before he imposed near-global 10% tariffs earlier this month.

President Trump repeated his call for the Federal Reserve to cut interest rates after April's inflation report was cooler than expected.

Trump claimed last month that gasoline prices had fallen as low as $1.98 in a couple of states. On Friday, Trump voiced a similar assertion on social media, saying, "Gasoline just broke $1.98 a Gallon, lowest in years."

Several times over the last week, President Donald Trump has assured Americans that the prices of eggs and gasoline are down significantly. But he has made false claims about the cost of both products.

The first inflation report since President Donald Trump launched his tariffs last month came out Tuesday, revealing prices rose less than expected, though the full extent of the tariff’s impact on consumers is still far from being captured from the data,