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.

Trump is correct to say that gasoline prices declined from a year ago: Today, regular unleaded fuel costs about $3.14 per gallon, compared with about $3.62 a year ago this month, according to AAA. Overall energy costs are also slightly lower, government data show.

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.”

In a surprising turn of events, President Trump on Thursday said India has offered to drop tariffs on US goods as part of a potential trade deal. Speaking at a business event in Qatar, he claimed India is "willing to literally charge us no tariff.

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

The Trump administration has made moves to ease tariff tensions with China but new reports indicate that prices, including for cars, are on the rise.

The temporary reprieve brings immediate, if modest, relief to US carriers facing the prospect of surging claims inflation. Steep tariffs would have raised the price of imported goods - especially auto parts and construction materials - thereby inflating the cost of claims in motor and property insurance lines.