Trump promised to lower food prices, but they’re still going up

Starting in 2020, consumers faced skyrocketing grocery store prices. A few factors were at play.

The COVID-19 pandemic tied supply chains into knots. An outbreak of highly pathogenic avian influenza eradicated chicken and egg supplies. And Russia’s invasion of Ukraine increased energy costs, which had widespread effects on economies.

Because of all this, according to the U.S. Department of Agriculture, food prices increased in 2022 faster than in any year since 1979 — when the U.S. economy was reeling from the rising cost of oil.

Then, in 2024, food inflation began to ease, according to the USDA. The cost of cooking food at home increased 1.2% that year, as opposed to 5% in 2023.

Still, as he campaigned for a second presidential term, President Trump focused on affordability. He repeatedly promised to “defeat inflation” and lower food prices for consumers. (He’s since called affordability a “con job.”)

After egg prices continued to increase during his first few months in office, they started to come down, according to the Federal Reserve Bank of St. Louis. The new administration said it would put “up to $1 billion” behind the effort to lower egg prices.

Beef prices have been another story. They’ve continued to increase.

Trump recently directed the U.S. Department of Justice to investigate the nation’s largest meatpacking companies for their alleged effect on consumer prices. And, according to The Wall Street Journal, he’s now tasked his top advisors with lowering beef prices. (During his first term, the Trump administration was an ally of the meat industry.)

Overall, grocery prices continue to increase, but not as quickly as during the pandemic years.

While many expected Trump’s tariffs to greatly increase food prices for consumers, that doesn’t appear to be the case yet, according to FarmProgress.

Part of that could be retailers are eating costs for now, or it could take about a year for the downstream effects of tariffs to be felt by consumers, according to CBS News.

Data Harvest (formerly Graphic of the Week) is Investigate Midwest’s way of making complex agricultural data easy to understand. Through engaging graphics, charts, and maps, we break down key trends to help readers quickly grasp the forces shaping farming, food systems, and rural communities. Want us to explore other data trends? Let us know here.