Trump trips over his ignorance while trying to talk about the basics of inflation

It’s hardly a secret that public concerns about inflation, affordability and the cost of living are a major concern for much of the country, so it’s important for Donald Trump to at least try to understand the issue at a basic level. So far, the president hasn’t even cleared a low bar.

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During his latest appearance on CNBC’s “Squawk Box,” host Joe Kernen, widely recognized as a conservative voice, noted that the inflation rate “was down to about where it is now, about 3%,” by the time Joe Biden’s term came to an end. Before the host could even get to his question, Trump interrupted.

“No, it wasn’t,” the president insisted. “It was down to 5%.”

Trump went on to argue, “And the reason it was down was because I had won the election, and it started falling after I won the election, and I started getting prices down from right after Nov. 5.”

Fortunately, none of this is subjective. We’re talking about knowable and specific details. It’s very easy to check and see whether the president was right or whether he was clueless.

Take a wild guess where I’m going with this.

As the global economy started recovering in earnest in the wake of the pandemic, inflation roared in every advanced economy on the planet. Unfortunately, the United States was no exception, and in June 2022, the inflation rate reached 9%. Conditions gradually improved in the months and years that followed, and by November 2024, the consumer price index had slid from 9% to 2.7%.