Former President Joe Biden was in office for most of January, which saw an increase in inflation, and a White House official told Breitbart News that President Donald Trump “is quickly undoing the lingering damage of” the last administration’s economic policies.
The Department of Labor announced Wednesday that the consumer price index (CPI) increased by .5 percent since December, while it has risen 3 percent since January 2024, Breitbart News noted.
Biden and Trump were both at the helm at points in January, with Biden being president for the first 19.5 days of the month and Trump being president for the final 11.5 days, as he works to enact his agenda at record-setting speed.
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“President Trump is quickly undoing the lingering damage of Biden’s failed economic policies that created the worst economic crisis in history and burdened hardworking Americans for the last four years,” a White House official said in a statement to Breitbart News.
“In just three weeks, President Trump has tackled runaway spending, created DOGE to terminate taxpayer-funded fraud and abuse, pressured Congress to produce a balanced budget, and cut regulations to restore America’s energy dominance,” the official added. “Just as he did in his first term, President Trump will continue to take unprecedented action to lower prices and usher in a new Golden Age.”
Biden’s administration oversaw 40-year-high inflation that financially crushed Americans around the country. Eggs, for example, saw a whopping 106 percent price increase between January 2021 and January 2025, according to information provided by administration officials.
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Over the same period, utility costs rose 31 percent, gas soared 35 percent, groceries climbed 23 percent, used and new cars jumped 21 percent and 18 percent, respectively, while housing services increased 25 percent.
According to information provided by administration officials, inflation averaged a mere 1.9 percent throughout Trump’s first administration versus a 5 percent average over the last four years. Additionally, while inflation met or exceeded 3 percent in 39 of Biden’s 48 months in office, it never exceeded that number in Trump’s first term.
