Trump says that gasoline and grocery prices have decreased. The facts say otherwise Business and economics

The US President said incorrectly that gasoline and egg prices have decreased while home sales were good.

US President Donald Trump said that housing, gasoline and grocery prices are decreased. However, the current data does not fully support any of these claims.

In the Oval Office on Thursday, the president said, when asked about home sales, and if it was an economic indication that he cares about, there were very good numbers in housing.

However, according to a report issued by the National Association of Real Estate Judass (NAR), which was the correspondent that asked the question to which the current homes have been moving at the slowest pace since 2009, and decreased 5.9 percent in March.

“The transmission of housing, currently at its lowest historical levels, indicates the annoying possibility of a less economic movement for society,” Lawrence Yun, NAR, Senior Economist in a general statement.

Trump said that energy prices decreased to $ 1.98 in some states. Although he did not specify the type of energy, his comments closely reflect the observations he made last week. At that time, gasoline prices were martyred specifically.

According to AAA, which monitors national gasoline prices, the lowest average registered $ 2.70 per gallon ($ 0.71 per liter) last week in Mississippi. Mississippi told the lowest average price for gasoline again, but this time at $ 2.68 ($ 0.70 per liter). Data from Gasbuddy, which tracks prices at individual gasoline stations, found that the lowest individual station prices are $ 2.33 per gallon (0.62 per liter) – still above the number mentioned by the president.

The average national gasoline price is currently $ 3.17 per gallon ($ 0.84 per liter). Although this reflects an increase of five cents over last month, it is a decrease of $ 3.60 ($ 0.95 per liter) at this time last year. The president properly noticed that gasoline prices are heading down, but not to the extent that it suggested.

According to the latest report issued by the Ministry of Labor, total energy prices decreased by 2.4 percent during the past month, due to a large extent to the decrease in gasoline prices. This decrease helped compensate for increases in the costs of natural gas and electricity. Oil prices have also decreased in general since Trump took office, mostly on the back of economic uncertainty caused by Trump’s identification threats.

In his comments, Trump also stated that grocery prices are decreasing. Modern data does not support this claim. According to the Ministry of Labor, food prices increased by 0.4 percent from last month and increased by 2.4 percent compared to last year. Price increases were observed in four out of six major groceries.

The eggs, which the president said, decreased in the price, actually witnessed an increase of 5.9 percent last month. On an annual basis, egg prices rose by more than 60 percent. The beef index increased by 1.2 percent, and dairy prices increased by 4 percent. However, the prices of fruits and vegetables decreased slightly, and decreased by 0.5 percent.