Inflation cools more than expected in June as gas costs fall and underlying prices ease
PBS News Hour – Politics — 2026-07-14 11:56:00 — www.pbs.org
Trump Takes Credit for Walmart Price Cuts Amid Mixed Economic Signals
President Donald Trump took to social media last week to praise Walmart for rolling back prices on thousands of items, including ground beef, potato chips, toys, and clothes. Trump sought to take credit for the price reductions, although Walmart did not mention Trump in its announcement.
The move comes as new data from the Labor Department shows U.S. inflation cooled last month, with prices dropping 0.4% from May to June—the largest monthly decline in four years. On a yearly basis, inflation fell to 3.5%, down from 4.2% in May, providing some relief to consumers.
Despite the positive inflation report, oil prices have risen for a second consecutive day, following renewed U.S. attacks on Iran and Trump’s announcement of a new blockade in the Strait of Hormuz, a critical shipping route for global oil supplies. The ongoing tensions in the Middle East have contributed to a recent spike in gas prices, now averaging $3.86 a gallon nationwide.
Many Americans remain dissatisfied with the economy after years of elevated inflation, posing political risks for Trump and Republicans ahead of the midterm elections. While Trump has publicly claimed credit for falling prices at major retailers, the evidence from Walmart’s own statements does not support his assertion.
As the economic outlook remains uncertain, with core inflation still above the Federal Reserve’s target and global events influencing energy costs, Trump’s efforts to link himself to positive consumer news highlight the ongoing debate over responsibility for economic trends.
Conclusion
President Trump’s attempt to claim credit for Walmart’s price reductions is not supported by the company’s own announcement. As inflation shows signs of cooling but energy prices remain volatile, Americans continue to weigh the administration’s economic record ahead of the upcoming elections.