U.S. President Donald Trump has repeatedly claimed that there is supposedly no inflation in the United States. He most recently repeated this claim on September 19 during a meeting with journalists in the Oval Office, citing his tariff policy. However, official data and indicators from the Federal Reserve contradict this: the current inflation rate is about 2.9% year over year, which exceeds the 2% “price stability” target. PolitiFact fact-checkers compared the data with the U.S. president’s statements.

According to the Bureau of Labor Statistics, inflation in the United States is significantly lower than at its peak in 2022 during Joe Biden’s presidency, but it is by no means zero. At the same time, the White House has been more cautious in its official releases, describing the economic situation as “stable” or “at target”, rather than claiming inflation is absent.

PolitiFact explains that the Federal Reserve has never aimed for absolute zero inflation. Its benchmark is around 2%, as modest price growth is considered beneficial for economic development. As of July, inflation measured by the Personal Consumption Expenditures (PCE) index stood at 2.6%, while “core inflation”, excluding energy and food, was 3.5%.

Moreover, after a decline in the spring, inflation rates began to rise again. From May to August, there was a gradual increase, and current inflation is already at the level seen at the beginning of Trump’s second presidential term. In several sectors of the economy – particularly electricity, the automotive market, and healthcare – prices are rising even faster than the overall rate.

Thus, Trump’s claim of “zero inflation” does not reflect reality. According to PolitiFact’s conclusion, inflation in the United States persists and is even showing signs of acceleration.