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.

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

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."

President Donald Trump falsely claimed Tuesday that he warned during his 2024 campaign that his tariffs would require Americans to experience the challenges of a “transition period.”

Inflation cooled for the third straight month in April even after some of Trump's tariffs took effect, though economists and many businesses expect inflation will climb in the coming months.

To commemorate his first 100 days in office this term, President Donald Trump gave a speech in Michigan and granted interviews to several news outlets. In our review of his remarks, we found false and misleading claims,

Donald Trump has agreed to substantially roll back tariffs on China as the two nations continue to work toward a permanent trade deal.

The move would align prescription costs in the US with the costs of other countries, according to the administration.

Trump’s post is undercut by prior social media posts where he took credit when the stock market boomed under President Joe Biden in January 2024.

Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary ... Day” tariffs because of the looming recession and likely inflation caused by a self-imposed supply chain crisis. “I just watched an exhausted ...

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%.