Despite rising in August, annual inflation has now remained below the 3.0% level recorded in President Joe Biden’s last month in office in every month of President Donald Trump’s second term, data released Thursday by the U.S. Bureau of Labor Statistics (BLS) show.

In August, seasonally adjusted CPI increased 0.4% from the previous month, after rising 0.2% in July. Compared to August 2024, the index rose 2.9%, following July’s 2.7% 12-month increase.

Still, annual inflation has been below 3.0% for seven straight months, ever since it fell from 3.0% in January to 2.8% in February, President Trump’s first full month in office.

The Consumer Price Index (CPI) rose nearly three times faster under Biden than it did during Trump’s first term. From January 2021 to January 2025, consumer prices increased 21.5%. From January 2017 to January 2021, the CPI rose 7.8%. On a monthly basis, the annual inflation rate averaged 1.9% under Trump (Feb. 2017-Jan. 2021), compared to 5.0% under Biden (Feb. 2021-Jan. 2025).

Incorporating Trump’s second term to-date, monthly inflation has averaged 2.0% for all 55 full months of his first and second terms combined.

In August, “core” inflation – which excludes the volatile food and energy sectors – held steady, as both month-month and 12-comparisions matched their July increases of 0.3% and 3.1%, respectively.

The index for shelter rose 0.4% in August and was the largest factor in the all-items monthly increase. The food index increased 0.5% over the month and 3.2% from August 2024.

Compared to 12 months earlier:

• The energy index increased 0.2%.
• The gasoline index decreased 6.6%.
• The food index increased 3.2%.
• Food away from home increased 3.9%
• Food at home index increased 2.7%.
• The shelter index increased 3.9%.