Two months ago, in his first network television interview after the election, Donald Trump said he owed his victory to Americans’ anger over immigration and inflation, specifically the rising cost of groceries.

The incoming president is set to inherit three months of rising inflation from his predecessor, the Consumer Price Index shows.

Donald Trump made the economy a major focus of his 2024 campaign, repeatedly blaming then-President Joe Biden and then-Vice President Kamala Harris for inflation. And that messaging worked: Trump narrowly defeated Democratic nominee Harris and returned to the White House on Monday,

Consumer price growth ticked up in December, a sign President-elect Donald Trump will inherit the inflation issues that dogged the Biden administration as he re-takes the White House next week.

The Republican has promised strong growth, high tariffs, income tax cuts and booming oilfields. But despite the solid job market and low 4.1% unemployment rate, he has to contend with headwinds like inflation, a budget deficit, increased tensions over trade, the fallout from his plans to curtail immigration and a persistent wealth gap.

Investors are snapping up crude oil futures as a hedge against the risk that U.S. President Donald Trump's threatened trade tariffs will cause a resurgence in global inflation, adding momentum to a recent rally in oil prices sparked by a tightening of sanctions on Russia.

American consumers are once again worried about inflation, the issue that may have cost former President Joe Biden the 2024 election, as President Donald Trump ’s administration advances its economic agenda, according to the latest consumer sentiment reading from the University of Michigan.

Despite the 2024 campaign rhetoric, Joe Biden is leaving Donald Trump a healthy economy that may be better off left alone.

Trump will probably seek to ease inflation and lower prices by drilling for more oil, loosening regulations, reducing federal spending, experts say.

Inflation figures came in near as expected for December. Prices rose 0.4% percent and the year-over-year price index increased 2.9 percent. The U.S. Bureau of Labor Statistics issued the December Consumer Price Index on Wednesday morning. The consensus had been for a 0.4% gain for the month and a 2.9% increase year-over-year.

Traders should keep watch on US Retail Sales data on Thursday, as it could increase volatility to Bitcoin price.

“This begins with confronting the economic chaos caused by the failed policies of the last administration,” Trump told the World Economic Forum on Thursday. Here are five economic forces that could shape the first year of Trump’s presidency: Whipping inflation is easier said than done.