President Donald Trump plans to speak in Pennsylvania today to kick off a national tour touting economic progress since he took office this year.
Americans are concerned about rising costs on everyday items as well as big-ticket purchases such as homes and cars. Although inflation has fallen sharply from 40-year highs under the Biden administration, prices are still higher than most Americans would like.
There’s good news. The Trump economic agenda is working to bring down costs, but the job is far from done. Americans are looking to conservatives in power to bring down costs driven up under the Biden administration and to address long-term structural issues that keep costs for expenses, such as housing and food, high.
Here are 5 stats that conservatives should tout, signaling progress on affordability:
- Gas prices plunge to the lowest level in nearly 5 years. Gas prices nationwide reached their lowest level in over four years, according to fuel savings platform GasBuddy. A gallon of regular gas at the pump averages $2.897. Patrick De Haan, head of petroleum analysis at GasBuddy, explained:
With the national average falling further, we’re now at multi-year lows heading into Christmas. Diesel prices are also easing, and in the cheapest cities, averages have dipped into the low-$2 range, with a few stations still offering gas under $2 per gallon. Barring any major disruptions, prices are likely to stay relatively low into the new year.
- Real wages are climbing after crashing under Biden. Americans’ wages are up 3.8% over the year and are on track to increase by over $1,100 after the first full Trump year, regaining about a third of what they lost under the previous administration.
- Average inflation has nearly been slashed in half. The inflation rate averaged 4.9% during the full Biden administration but has fallen to 2.7% under the Trump administration. The inflation rate hit a 40-year high of over 9% in 2022 and has fallen significantly. At the start of 2025, the inflation rate was 3% and fell to a low of 2.3% in April. It has since risen back up to 3%, but this year we have seen price declines on many goods. (See the chart below.)
- Shelter inflation is down to a 4-year low. The 12-month change in overall shelter costs fell to 3.6% in September (the month with the most recent data)—the lowest level since October 2021.
- Deregulation saved Americans $2,100 per family. The Biden administration added more than $2 trillion in regulatory costs. By halting regulations in the pipeline, the Trump administration saved $180 billion (or $2,100 per family).
What’s Next?
The Trump economic agenda is emerging as a powerful force against high prices by bringing down costs, raising wages, and increasing take-home pay.
An economy that generates higher-paying jobs and rising wages is a buffer against the loss of purchasing power from rising prices.
At the same time, exempting more income from taxes will leave more in Americans’ paychecks. The One Big Beautiful Bill Act (OBBBA), or the massive tax cuts package passed in July 2025, will raise Americans’ take-home pay by as much as $13,300 and wages by as much as $11,600, according to White House estimates. From the elimination of taxes on tips, overtime, and car loan interest to new Trump accounts that start every newborn over the next few years with a nest egg, financial relief is on the way for working families.
President Trump has also signaled he may look to use tariff revenue to eliminate federal income taxes for low- and middle-income households.
An energy agenda that allows for more domestic production and different forms of energy will continue to lower prices at the gas pump and the grocery store, as so many of the goods we use and consume are made with or transported with oil.
All of these efforts and more promise to deliver greater financial freedom to Americans for years to come.
Bottom Line
The Left claims to care about affordability despite ignoring rising prices for all four years of the Biden administration. Now, they are cloaking their radical economic agendas under the guise of affordability.
Americans’ appetite for policies that will attack affordability played a role in the outcomes of Virginia and New Jersey gubernatorial campaigns, as well as the New York City mayoral race. Yet, the Left does not offer solutions to make life more affordable, just massive, reckless spending sprees that will drive prices up and expand hardship for Americans.