President Donald Trump speaks during an event to announce new tariffs in the Rose Garden at the White House, Wednesday, April 2, 2025, in Washington. (AP Photo/Mark Schiefelbein)

A new report shows that inflation under President Donald Trump’s second term has resulted in families paying significantly more for goods despite Republican claims that costs are decreasing.

Using data from the Bureau of Labor Statistics on the Consumer Price Index, Democrats on the Joint Economic Committee (JEC) estimates that the average U.S. household has spent $706 more for goods and services in the first eight months of Trump’s second term.

Montana has seen one of the largest increases in costs, spurring a statement from Democratic National Committee Chair Ken Martin.

“In Donald Trump’s America, Montanans are bearing the costs of Trump’s disastrous economic agenda that has already cost Montana families $894 dollars more in the first six months of his presidency,” Martin said. “Trump’s reckless trade wars, billionaire-first policies, and broken promises to lower costs have devastated communities across Montana, with no end in sight. Monthly costs are rising, and families in Montana are paying more because Trump and his Republican lackeys don’t have any plan to make life more affordable for working people in this country.”

Illinois ($766), Ohio ($659) and Pennsylvania ($733) have also seen costs soar.

Tax Foundation, an independent tax policy nonprofit, contends that Trump’s tariff policies have contributed to the increase in costs for consumers. The inherent tax to companies and retaliatory measures from trade partners like China and the European Union have resulted in costs being passed onto consumers.

U.S. Sen. Maggie Hassan (D-NH), the ranking member of the JEC, made the same argument when the report was released earlier this month.

“While President Trump claimed that he would bring down prices, the reality is that Americans have seen their costs soar even higher since he took office,” Hassan said. “As families across the country spend more to pay their bills and put food on the table, Democrats and Republicans should be working together to lower costs. Instead, President Trump is pushing ahead with reckless tariffs that continue to fuel inflation and drive prices up even higher.”

Republican claims on affordability

While campaigning last year, Trump promised that inflation would be in “full retreat” by August and he would bring the cost of everything “WAY DOWN.”

Despite the data and recent polling suggesting that affordability is the main concern for many voters, Trump and Republicans in Congress have attempted to convince the public that the economy is strong. In recent weeks, Trump has falsely claimed that the United States has “the greatest economy we’ve ever had” and that Americans are “so damn lucky” he won the presidency to avoid a “bankrupt country.”

In addition to the tariffs, Trump has also overseen a significant reduction in manufacturing jobs, spiking energy bills and increasingly unaffordable housing. Trump has also signaled his willingness to let the premium tax credits for the Affordable Care Act expire at the end of the year, which is projected to increase the out-of-pocket cost for health insurance premiums for millions of Americans.