WASHINGTON, DC – This week, the Joint Economic Committee released a data brief finding that the average American household faced $2,881 less in additional costs from rising prices – a 40.7 percent reduction – during the first 20 months of President Trump’s second term compared with the first 20 months of the Biden administration.
The difference varied by state, but every state experienced a smaller increase in household costs. The largest percentage slowdown was in Texas, where household cost increases were 58.4 percent lower, amounting to $4,216 less in additional costs. The smallest percentage slowdown was in New Jersey at 18.2 percent, still amounting to $1,243 less in additional costs.
| Increase in household costs Jan 2021 – Aug 2022 | Increase in household costs Jan 2025 – Aug 2026 | Difference in cost increases | |
| Arizona | $8,427 | $4,000 | $4,427 |
The comparison does not mean prices declined during President Trump’s second term. Rather, the analysis finds that the cumulative increase in household costs was substantially smaller than during the comparable period under President Biden.
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