WASHINGTON – The Joint Economic Committee – Minority released a new report finding that the average U.S. household has already spent $700 more in the first eight months under President Trump.

On the campaign trail, the President claimed that he would “bring the cost of everything way down” and that “inflation will be in full retreat” by August 2025. And earlier this week, he insisted that “costs are way down.” However, according to the new Committee report, families have seen costs climb by hundreds of dollars in every single state. The report estimates how much more an average family must spend to afford the same items each month due to inflation under President Trump, using the same methods that the Joint Economic Committee – Republicans used under the last administration to estimate state-level costs.

“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,” said U.S. Senator Maggie Hassan, Ranking Member of the Joint Economic Committee. “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.”

The Committee report was issued this morning, when the October Consumer Price Index was due to come out. However, it has been delayed due to the government shutdown. Earlier this year, the Committee detailed that under Trump, families are spending more on electricity, cookout essentials, and baby products.

The table below shows how much more families in every state have spent since Trump took office. Read the full report here.