Claim Check · Inflation
“I inherited the worst inflation in the history of our country.”
Verdict: FalseInflation peaked at 9.1% in June 2022 - the highest since 1981, but far from a record. Prices rose 23.7% in the year ending June 1920. And the rate inherited in January 2025 was about 3%, not a historic high.
In a Feb. 4, 2026 NBC News interview, President Trump repeated that he inherited the worst inflation in the history of the country.
By the Consumer Price Index, annual inflation was about 3% when Trump took office in January 2025. The highest recent reading was 9.1% in June 2022 under President Biden - the largest 12-month increase since 1981, but not a record. The worst U.S. inflation on record came after World War I, when the CPI rose 23.7% for the 12 months ending June 1920.
Inflation has since eased to about 2.4% as of January 2026, still above the Federal Reserve's 2% target - so prices are rising more slowly, not falling.
Sources
- A Pre-SOTU Guide to Trump's Economic Claims — FactCheck.org
- Consumer Price Index — Bureau of Labor Statistics
Share graphic