With a social media post declaring “STOP LYIN” about there being an affordability crisis, President Trump has claimed victory over inflation. Yet many consumers say they are still feeling the pinch.
An analysis by DataWeave, which examined roughly 16,000 items across major retailers’ websites, found Target prices are up 5.5% nationwide this year, and Walmart’s prices have risen 5.3%. Amazon’s price increases have been even higher, averaging more than 12%, according to a separate report.
Under seven months of Trump’s tariffs, Americans are paying more for a wide range of goods — from coffee and furniture to children’s toys. Food inflation, measured by September’s Consumer Price Index, has slowed to 3.1%, a significant decline from the double-digit increases seen under President Biden.
However, certain grocery items remain expensive. Bananas are up 8.6%, mostly due to tariffs, as the U.S. produces almost none domestically. Chicken and eggs have seen fluctuations due to bird flu, while beef has surged — steak is up more than 19%, and ground beef 14% — driven by smaller herds from drought and tariffs on foreign beef. President Trump has indicated he is exploring consumer relief by increasing imports from Argentina.
“Putting Joe Biden’s inflation crisis firmly behind us has been a Day One priority for President Trump,” White House spokesman Kush Desai said Thursday. “Americans are paying less for essentials like gas and eggs, and today the Administration inked yet another drug pricing deal to deliver unprecedented healthcare savings for everyday Americans.” He added, “The best is yet to come,” citing ongoing tax cuts and deregulation.
Economic concerns were a key issue in this week’s elections. Socialist Mayor-elect Zohran Mamdani campaigned on free public transportation and other services, highlighting the city’s high cost of living. Vice President JD Vance urged GOP voters on social media to “focus on the home front,” noting that affordability will be a critical metric in 2026.
Yet many Americans aren’t feeling the relief. Chris Sohan, 61, of Queens, who shops weekly for his family, said prices remain high. “Everything is expensive… I used to buy beef every week. Now I buy it every two weeks. I eat more chicken,” he said. Sohan, a two-time Trump voter, expressed disappointment. “I expected better from him… He cares more about his rich friends than people like me.”
Businesses initially absorbed much of the cost of Trump’s tariffs on goods from China, Vietnam, and other trading partners, including furniture, aluminum, vehicles, and auto parts. Now, many companies have begun passing these costs to consumers. Goldman Sachs economists have warned that Americans will bear the brunt of the tariffs by year’s end.
Between January and September, apparel prices across Amazon, Target, and Walmart rose an average of 11.5%. Prices for home goods, pet items, consumables, health and beauty products, and electronics/furniture climbed 10.8%, 6.1%, 7%, and 8.3%, respectively.
Amazon faces unique challenges as a largely third-party seller, making it harder to avoid price hikes, though it remains highly profitable, according to Bill Currence of Cornerstone Consulting Organization. The company disputes claims that its prices have risen across the board, saying fluctuations are normal. Target and Walmart report holding steady or reducing prices on certain items, including school supplies and thousands of everyday products.
Trump’s tariffs on pharmaceuticals, furniture, and other imports have directly impacted consumer costs. For example, IKEA raised the price of a three-piece oak bedroom set by $100 and the Uppland sofa by $50 this year. Federal data shows living room, kitchen, and dining room furniture prices — largely imported — rose 9.5% in September compared to a year earlier.
Toys, video games, and electronics have also seen sharp price increases, as have fast-fashion items after the removal of tariff exemptions. In one case, a jacket from Mango cost $650 in the U.S. but roughly $347 in Spain. Similarly, River Island and Zara items were significantly cheaper overseas.
Even coffee prices have soared, up 41% from last year, driven by global droughts, flooding, and Trump’s tariffs on key suppliers in Brazil and Vietnam. Southern California’s Klatch Coffee, a family-run company, reported having to raise prices twice this year due to rising costs.