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By Andrew Stanton
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President Donald Trump is facing "troubling" trends on prices more than a month after his return to the White House, his former economic adviser Stephen Moore warned on Sunday.
Newsweek has reached out to the White House for comment via email.
Why It Matters
Trump, on the campaign trial, said lowering prices would be a top priority of his administration, as the U.S. had dealt with high inflation rates over the past few years due to the COVID-19 pandemic. Former President Joe Biden frequently faced criticism for high prices, which became an albatross for Democrats last November.
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But from homes to eggs, prices remained high into March, several weeks after Trump's inauguration as some Americans are feeling he is more focused on culture war issues or cutting the federal workforce than adjusting prices. His ability to enact economic policies to bring prices under control will be key to the party's success in the 2026 midterms.
What to Know
In an interview published in The Wall Street Journal on Sunday, Moore said he's "nervous" about high prices.
"The Trump administration needs to keep its eye on what's happening with prices. It should be a top priority. The trend is a little bit troubling," he said.
During Trump's first term, Moore, along with Larry Kudlow, advised the Trump administration during the writing and passage of the Tax Cuts and Jobs Act of 2017.
The Consumer Price Index (CPI) increased by 0.5 percent month-over-month in January 2025, up from 0.4 percent in December, according to the to the Bureau of Labor Statistics (BLS). This was a notably higher increase than consensus forecasts of 0.3 percent.
Meanwhile, egg prices, which are increasing in part due to the bird flu, reached a high in January of $4.953 per dozen, according to data from the St. Louis Fed. Economists have also warned that Trump's tariffs on Canada and Mexico could lead to an increase in prices on imported goods, as well as housing.
However, Trump was only in office starting on January 20, not the whole month. Data for February 2025 has not been released yet.
Shortly after Trump took his oath of office, he indicated that he doesn't believe inflation was a top issue for voters, the Associated Press reported.
"They all said inflation was the number one issue. I said, 'I disagree. I talked about inflation too, but how many times can you say that an apple has doubled in cost?" he said.
A CNN/SSRS poll, conducted among 1,206 Americans from February 13 to 17, found that 62 percent of Americans believe Trump has not gone far enough to reduce prices of everyday goods. It had a margin of error of plus or minus 3.1 percentage points.
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What People Are Saying
Representative Eric Swalwell, a California Democrat, wrote on X, formerly Twitter, on Sunday: "Trump said he'd bring prices down on Day 1. Well, it's Day 41, and he's been golfing dozens of times. How many times has he been in a grocery store to check on those prices?"
Georgia Governor Brian Kemp to The Wall Street Journal: "I don't feel like people are blaming him on that yet, but I think that's a risk you get three, six months down the road."
What Happens Next?
Data on inflation and prices for February will be released over the coming days. Meanwhile, Trump's tariffs are expected to resume on Tuesday after a 30-day pause.
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