NEW INFLATION DATA: Trump Drives Up Prices, Inflation Higher Than When He Took Office Arrow

Trump's unhinged trade war and now his war with Iran have pushed prices even higher - March saw the largest one-month jump in inflation since 2022

Today, the Bureau of Labor Statistics released the Consumer Price Index report for March, showing that inflation surged to 3.3% in March, almost a full point higher than the month before and higher than it was when Trump took office.

Inflation has risen significantly, largely due to an increase in energy prices because of Trump's war with Iran. Inflation rose 0.9% in March alone - the biggest one-month jump since 2022 - and real wages are down. Gas prices rose 21%, the largest monthly increase since 1967, while the index for energy jumped 10.9% - the biggest gain since 2005.

According to AAA, the price of a gallon of gasoline is $4.15 today, and has risen by over a dollar per gallon since the war started. Americans have paid more than $10 billion extra for gasoline since Trump's war started.

REMINDER: Donald Trump vowed he would "defeat inflation" and bring down costs on "Day One."

In response, DNC Chair Ken Martin released the following statement:

"Donald Trump is driving prices up and tanking the job market, pushing working families to the brink as they struggle to pay their rent, afford their groceries, or buy lifesaving medicine. Trump promised to 'lower prices on Day One,' and instead he waged an unhinged trade war and started an unpopular war with Iran - and what have Americans gotten in return? Nothing except even higher prices. Americans are sick and tired of this president putting his own interests first and using their hard-earned dollars to fund his war instead of making health care more affordable or expanding access to child care."

Under Trump, prices are climbing and the job market is tanking. The inflation data today follows the PCE inflation report yesterday, which found that inflation rose again in February - even before Trump's war with Iran spiked global oil prices - and remains well above the Federal Reserve's target rate. U.S. employers cut more than 60,000 jobs in March - 25% more than the cuts announced in February - and according to estimates, the war in Iran will cost 10,000 jobs a month through the end of the year.