US prices have increased by 5.4% during Donald Trump’s second term so far. Although prices are rising more slowly than they did under former President Joe Biden, several everyday items have become much more expensive. Higher fuel costs and tariffs on imported goods have added pressure on American households.
Trump is facing growing public anger over the cost of living. A poll average compiled by Nate Silver’s Silver Bulletin shows that 72% of Americans disapprove of Trump’s handling of inflation. This could become a major political problem for the president, similar to the voter backlash Biden faced over rising prices during his presidency.
US inflation under Trump vs Biden
Prices increased much faster during Biden’s four years in office. The cost of all items rose by more than 20% during Biden’s presidency, according to Yahoo Finance. In comparison, prices have increased by 5.4% in less than two years of Trump’s second term. However, the overall increase does not tell the full story, as some important goods have become much more expensive.
Iran war pushes gas prices higher
The war in Iran has pushed fuel prices higher. Fuel oil and gasoline prices have surged by more than 30% since March as the war in Iran and the closure of the Strait of Hormuz disrupted energy supplies. These increases have put additional pressure on Americans who depend on fuel for their daily travel and other needs, according to the Yahoo Finance analysis.
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A large number of voters are unhappy with Trump’s handling of gas prices. A New York Times/Siena poll released on October 21 found that 73% of likely voters disapprove of how Trump is handling gasoline prices. The findings show that fuel costs have become a major concern for voters ahead of the November 3 midterm elections.
Trump has blamed Iran for the rise in oil prices. In a post on Truth Social this week, Trump said, “Iran is doing everything they can to drive up the price of Oil prior to the US Midterm Election.” He has also argued that high energy prices will no longer be a problem once the war with Iran ends.
Trump tariffs raise coffee and toy prices
Tariffs have also contributed to higher prices for some everyday products. Trump’s tariffs on imported goods have increased costs for businesses bringing products into the US from China and other Asian countries. These higher costs have affected several products, including coffee, toys and footwear, according to Yahoo Finance.
Coffee prices have increased sharply during Trump’s second term. Coffee prices have risen by nearly 23%, more than twice the rate recorded during Biden’s presidency. Tariffs increased costs before Trump removed many coffee duties late last year following complaints from coffee drinkers about higher prices, according to Yahoo Finance.
Toys have become more expensive under Trump after prices fell during Biden’s term. Toy prices declined by 4.6% during Biden’s presidency but have increased by 7.8% so far during Trump’s second term, according to the analysis. The change highlights how tariffs can affect the cost of imported products.
Trump has previously acknowledged that tariffs can make products more expensive. When questioned about the impact of tariffs in April, he said, “Maybe the children will have two dolls instead of 30 dolls, and maybe the two dolls will cost a couple of bucks more than they would normally.” His comments highlighted the possibility that families may have to pay more or buy fewer products.
Egg prices fall as tariff concerns grow
Egg prices have moved in the opposite direction. During Biden’s presidency, egg prices increased by an average of 2.57% each month. During Trump’s second term so far, they have fallen by an average of 3.82% each month, according to the price data cited by Yahoo Finance. This shows that not all everyday products have become more expensive under Trump.
Trump’s tariff policy remains unpopular among Americans. An average of polls compiled by Silver Bulletin found that 62.7% of Americans disapprove of Trump’s handling of trade and tariffs, while 32.8% approve. The figures suggest that trade policy remains another source of public dissatisfaction.
US midterm elections put Trump under pressure
Rising prices have become a major political challenge ahead of the midterm elections. Early voting is already underway for the November 3 elections, when voters will decide contests that could affect the balance of power in Congress. Inflation has emerged as a key issue for Trump and Republicans, much as it did for Biden and Democrats during the previous election cycle.
Gasoline prices are a particularly sensitive issue for American voters. Gas prices are averaging around $4.30 per gallon, while diesel prices remain elevated after reaching a record high last month, according to the American Automobile Association (AAA). Fuel prices directly affect household budgets and businesses, making them an important issue during election campaigns.
Trump announces steps to control fuel costs
Trump has announced new measures to help control rising fuel costs. This week, his administration announced $8 billion in support for farmers to help offset soaring diesel costs. On Thursday, Trump also invoked the Defense Production Act to direct new funding towards increasing domestic petroleum production, refining and logistics capacity.
Trump defended his energy measures during a rally in Iowa. Speaking to voters in Sioux City on Thursday, he said the release of $150 million would lead to increased production of diesel and gasoline. The announcement was part of his efforts to show voters that his administration is working to address rising energy costs.
Gas prices remain close to Biden-era levels
Average gasoline prices under Trump are almost the same as they were under Biden. Since Trump took office on January 20, 2025, gasoline has averaged $3.449 per gallon, according to the US Energy Information Administration. During Biden’s four years in office, the average was $3.455 per gallon. The figures show that average gasoline prices under the two presidents have been nearly identical.
The figures put Trump’s earlier campaign promises under pressure. During his 2024 presidential campaign, Trump repeatedly promised to bring gasoline prices down to $2 per gallon and sharply reduce inflation. With gasoline now averaging around $4.30 per gallon, his administration faces questions about its ability to deliver those promises.
Most Americans unhappy with US economy
Most Americans have a negative view of the country’s economic conditions. A New York Times/Siena University poll found that 75% of voters consider the economy to be in only fair or poor condition. A solid majority also blamed Trump for the situation, according to the poll released this week. The findings suggest that voters are connecting their financial difficulties with the president’s policies.
Consumer confidence has weakened since the war in Iran began. In its October 2026 report, Ipsos said Americans’ confidence in the economy had been poor since the conflict started and had deteriorated further. The report described the latest situation by saying, “now the bottom has dropped out.” The findings underline the growing concerns about the economy as Americans deal with higher fuel costs and rising prices for some everyday goods.
The main challenge for Trump is that slower overall inflation has not stopped voter frustration. Although prices have risen more slowly during his second term than during Biden’s presidency, higher gasoline, fuel oil, coffee, toy and footwear prices are affecting household budgets. With the midterm elections approaching, voters’ concerns about the cost of living could become a significant political problem for Trump and his party, according to Yahoo Finance.