Today’s Consumer Price Index (CPI) report shows prices rose 0.4% in August and are up 3.4% over the past year. Core prices, which exclude food and energy, rose 0.3% in August alone. Gas prices reached their highest ever recorded for August, and the pressure has not let up, climbing $4.29 per gallon, up 14 cents since hitting a Labor Day record. Diesel surged past $6 per gallon for the first time ever, up more than 70 cents from a month ago, which will show up on grocery store shelves for months to come as it costs more and more to transport essentials.
Rather than address the pain families are feeling at the grocery store and the gas pump, Trump this week floated an absurd rebate program, promising checks sent directly to Americans if his party is successful in the midterm elections – after promising 15 similar payments that never materialized during his second term. Under Trump’s watch, wage growth has slowed to its lowest point since 2021, while inflation has shot up and shows no signs of easing. Every day in Trump’s economy is more expensive than the last for working families.
Today’s report is the final inflation print before the Federal Reserve meets next week to decide where interest rates go next, and it’s already out of date. Most of the August data was collected before Trump’s 50% tariffs on Canadian imports took effect on August 22, hitting products including wine, furniture, and dairy products, and before Trump further escalated his war in Iran and sent oil prices past $100 per barrel.
Groundwork’s Senior Vice President of Policy, Advocacy, and Research Alex Jacquez, released the following statement:
“Trump’s economy is setting all the wrong kinds of records. Working families are being forced to use credit cards to cover the basics as gas prices hit historic highs. Meanwhile, the president has imposed further tariffs on one of our closest trading partners and continues escalation in Iran. Trump promised to lower costs and improve daily life for Americans. He’s not only failed to deliver on that promise, he’s driven our economy over a cliff.”
This content originally appeared on Common Dreams and was authored by Newswire Editor.
Newswire Editor | Radio Free (2026-09-11T17:33:47+00:00) August CPI Report Shows Price Hikes Accelerating as Trump Brushes Off Working Families’ Affordability Worries. Retrieved from https://www.radiofree.org/2026/09/11/august-cpi-report-shows-price-hikes-accelerating-as-trump-brushes-off-working-families-affordability-worries/
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