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Core Inflation under Donald Trump (second term)

Core Inflation went from 3.3% in Donald Trump (second term)'s first month to 2.6% at month 21 (the latest reading): a change of −0.7 pts. At that point in office it ranks #4 of 10 administrations since 1969. Official data from the Bureau of Labor Statistics (BLS).

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Month 1
3.3%
Month 21 (latest)
2.6%
Change
−0.7 pts
Rank at that point
#4 of 10
1.1%7.1%13.1%Month 1Month 13Month 25Month 37Month 48Nixon, month 1: 5.1%Nixon, month 4: 6.1%Nixon, month 7: 5.8%Nixon, month 10: 6.0%Nixon, month 13: 6.2%Nixon, month 16: 6.0%Nixon, month 19: 6.2%Nixon, month 22: 6.1%Nixon, month 25: 6.3%Nixon, month 28: 5.0%Nixon, month 31: 4.9%Nixon, month 34: 3.9%Nixon, month 37: 3.3%Nixon, month 40: 3.3%Nixon, month 43: 2.8%Nixon, month 46: 3.0%Nixon, month 48: 3.0%NixonCarter, month 1: 6.1%Carter, month 4: 6.3%Carter, month 7: 6.3%Carter, month 10: 6.0%Carter, month 13: 6.4%Carter, month 16: 6.6%Carter, month 19: 7.2%Carter, month 22: 8.4%Carter, month 25: 8.6%Carter, month 28: 9.3%Carter, month 31: 9.6%Carter, month 34: 10.1%Carter, month 37: 12.0%Carter, month 40: 13.1%Carter, month 43: 12.4%Carter, month 46: 12.2%Carter, month 48: 12.2%CarterReagan, month 1: 11.3%Reagan, month 4: 9.4%Reagan, month 7: 11.1%Reagan, month 10: 11.0%Reagan, month 13: 9.3%Reagan, month 16: 8.8%Reagan, month 19: 7.7%Reagan, month 22: 5.9%Reagan, month 25: 4.6%Reagan, month 28: 4.1%Reagan, month 31: 3.2%Reagan, month 34: 3.6%Reagan, month 37: 5.0%Reagan, month 40: 5.2%Reagan, month 43: 5.2%Reagan, month 46: 5.2%Reagan, month 48: 4.9%ReaganBush 41, month 1: 4.6%Bush 41, month 4: 4.5%Bush 41, month 7: 4.5%Bush 41, month 10: 4.3%Bush 41, month 13: 4.4%Bush 41, month 16: 4.8%Bush 41, month 19: 5.1%Bush 41, month 22: 5.4%Bush 41, month 25: 5.6%Bush 41, month 28: 5.2%Bush 41, month 31: 4.8%Bush 41, month 34: 4.4%Bush 41, month 37: 4.0%Bush 41, month 40: 3.8%Bush 41, month 43: 3.7%Bush 41, month 46: 3.5%Bush 41, month 48: 3.4%Bush 41Clinton, month 1: 3.5%Clinton, month 4: 3.5%Clinton, month 7: 3.2%Clinton, month 10: 3.1%Clinton, month 13: 2.9%Clinton, month 16: 2.7%Clinton, month 19: 2.9%Clinton, month 22: 2.9%Clinton, month 25: 2.9%Clinton, month 28: 3.1%Clinton, month 31: 3.0%Clinton, month 34: 3.1%Clinton, month 37: 3.0%Clinton, month 40: 2.6%Clinton, month 43: 2.7%Clinton, month 46: 2.5%Clinton, month 48: 2.6%ClintonBush 43, month 1: 2.6%Bush 43, month 4: 2.7%Bush 43, month 7: 2.7%Bush 43, month 10: 2.6%Bush 43, month 13: 2.6%Bush 43, month 16: 2.5%Bush 43, month 19: 2.2%Bush 43, month 22: 2.2%Bush 43, month 25: 2.0%Bush 43, month 28: 1.5%Bush 43, month 31: 1.5%Bush 43, month 34: 1.3%Bush 43, month 37: 1.1%Bush 43, month 40: 1.8%Bush 43, month 43: 1.8%Bush 43, month 46: 2.0%Bush 43, month 48: 2.3%Bush 43Obama, month 1: 1.7%Obama, month 4: 1.9%Obama, month 7: 1.5%Obama, month 10: 1.7%Obama, month 13: 1.5%Obama, month 16: 1.0%Obama, month 19: 1.0%Obama, month 22: 0.6%Obama, month 25: 1.0%Obama, month 28: 1.3%Obama, month 31: 1.7%Obama, month 34: 2.1%Obama, month 37: 2.3%Obama, month 40: 2.3%Obama, month 43: 2.1%Obama, month 46: 2.0%Obama, month 48: 1.9%ObamaTrump I, month 1: 2.3%Trump I, month 4: 1.9%Trump I, month 7: 1.7%Trump I, month 10: 1.8%Trump I, month 13: 1.9%Trump I, month 16: 2.1%Trump I, month 19: 2.3%Trump I, month 22: 2.1%Trump I, month 25: 2.2%Trump I, month 28: 2.1%Trump I, month 31: 2.2%Trump I, month 34: 2.3%Trump I, month 37: 2.3%Trump I, month 40: 1.4%Trump I, month 43: 1.6%Trump I, month 46: 1.6%Trump I, month 48: 1.6%Trump IBiden, month 1: 1.4%Biden, month 4: 3.0%Biden, month 7: 4.2%Biden, month 10: 4.6%Biden, month 13: 6.0%Biden, month 16: 6.2%Biden, month 19: 5.9%Biden, month 22: 6.3%Biden, month 25: 5.5%Biden, month 28: 5.5%Biden, month 31: 4.7%Biden, month 34: 4.0%Biden, month 37: 3.9%Biden, month 40: 3.6%Biden, month 43: 3.2%Biden, month 46: 3.3%Biden, month 48: 3.2%BidenTrump II, month 1: 3.3%Trump II, month 4: 2.8%Trump II, month 7: 3.0%Trump II, month 11: 2.6%Trump II, month 14: 2.5%Trump II, month 17: 2.8%Trump II, month 20: 2.5%Trump II, month 21: 2.6%Trump II
Core Inflation, months 1–48 of each term. Highlighted: Trump II.

All administrations at month 21

Core Inflation at month 21 in office, 10 administrations ranked lowest (best) to highest. Average of all 10: 4.3%.
RankAdministrationValue at month 21Change since month 1Latest / end of month 48Primary federal source
#1Barack Obama0.8%−0.9 pts1.9% (month 48)Bureau of Labor Statistics · CPILFESL
#2Donald Trump (first term)2.2%−0.0 pts1.6% (month 48)Bureau of Labor Statistics · CPILFESL
#3George W. Bush2.2%−0.3 pts2.3% (month 48)Bureau of Labor Statistics · CPILFESL
#4Donald Trump (second term) · in office2.6%−0.7 pts2.6% (month 21)Bureau of Labor Statistics · CPILFESL
#5Bill Clinton3.0%−0.4 pts2.6% (month 48)Bureau of Labor Statistics · CPILFESL
#6George H. W. Bush5.5%+0.9 pts3.4% (month 48)Bureau of Labor Statistics · CPILFESL
#7Ronald Reagan5.9%−5.5 pts4.9% (month 48)Bureau of Labor Statistics · CPILFESL
#8Richard Nixon6.2%+1.1 pts3.0% (month 48)Bureau of Labor Statistics · CPILFESL
#9Joe Biden6.6%+5.2 pts3.2% (month 48)Bureau of Labor Statistics · CPILFESL
#10Jimmy Carter7.9%+1.8 pts12.2% (month 48)Bureau of Labor Statistics · CPILFESL

Methodology and source verification

Year-over-year % change in CPI excluding food and energy (BLS). Lower ranks better.

Every administration is aligned to its own inauguration: month 1 is the month it took office, and the comparison runs to month 48 (the first term). Each administration is compared at the same month in office, so a president halfway through a term is never measured against another's full four years.

Primary source: Bureau of Labor Statistics (BLS). Retrieved from the Federal Reserve Bank of St. Louis (FRED), series CPILFESL, refreshed hourly. Latest observation 2026-09-01, first published 2026-10-14. Full methods: methodology.

More on Donald Trump (second term)

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