Trump Declares Victory Over Inflation Amid Data

President Donald Trump told world leaders at the World Economic Forum in Davos on Jan. 21, 2026, that he had "defeated" inflation and that many consumer prices are falling. Federal data shows headline CPI at a 2.7% annual rate in December 2025 and core CPI at 2.6%, while economists warn high tariffs and sectoral price rises keep inflation elevated. Some costs, like mortgages, gasoline and rents, have eased, but car payments and electricity have risen, complicating the claim.