NEW DATA: Trump Says “I Love the Inflation,” As Families Have Had to Spend $3,100+ More on Everyday Essentials

FOR IMMEDIATE RELEASE 

June 10, 2026  

Contact: minority_jecpress@jec.senate.gov  

NEW DATA: Trump Says “I Love the Inflation,” As Families Have Had to Spend $3,100+ More on Everyday Essentials

WASHINGTON – American families have had to spend $3,100+ more since President Trump took office last year, according to new data released today by the Joint Economic Committee - Minority. The new data released today also include state-by-state statistics for everyday essentials.

“Since President Trump took office, Americans have been burdened with cost increases on items that they need every day,” said U.S. Senator Maggie Hassan, Ranking Member of the Joint Economic Committee. “The President says he loves inflation and doesn’t think about the financial situation of Americans, even as families across the country have paid higher prices under Trump for gas, groceries, utilities, health care, and nearly every aspect of their lives.”

Despite President Trump’s repeated pledges on the campaign trail that his administration would “end inflation” and bring down costs for families, Trump has instead caused costs to continue to rise significantly, including because of his reckless tariffs and war in Iran. Key costs by type of expense included in the new Committee report:

Housing Costs

• Families across the country have had to spend $622 more on housing costs like rent and mortgage payments since President Trump took office.

Grocery Costs 

• Americans paid $310 more for groceries in President Trump’s first year compared to 2024, and grocery prices are now 4 percent higher than when Trump took office last year. 

• Since the second Trump administration began, the average price of ground beef has risen almost every month to a record high of nearly $7 per pound. Coffee prices also spiked and are now nearly $10 per pound.

Energy Costs 

• In total, Americans have spent $44 billion more on gas since the beginning of Trump’s war with Iran. That means the average family has spent $372 more on gas during this time. Plus, it now costs Americans $150 to fill up the most popular pickup truck, which is 40 percent more than before the war. 

• Americans paid $110 more for electricity in 2025 under President Trump than they did in 2024.

• Many New England families rely on home heating oil, and in the wake of Trump’s Iran War, these households paid at least $200 more to heat their homes this March compared to last year. 

Health Care Costs 

• Because of Trump and Republicans’ refusal to extend the Affordable Care Act (ACA) tax cuts that help people afford their health insurance, average monthly premiums for ACA plans rose more than 50 percent in 2026 compared to last year. Meanwhile, deductibles surged to record highs, increasing by more than $1,000 on average.

Additionally, this new Joint Economic Committee - Minority report includes state-by-state fact sheets that illustrate how inflation under President Trump has increased daily costs for families in all 50 states plus D.C.

This report is part of Senator Hassan’s ongoing effort as Ranking Member of the Joint Economic Committee and as a member of the Senate Finance Committee to quantify the economic impact that President Trump’s policies have on American families. She will continue to push the administration to reverse course on the President’s tariffs, illegal war with Iran, and other actions. 

Click here to see fact sheets on rising costs in each state.

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