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Fact-Check: Trump’s “<2% Inflation” Claim False, Prices Near $3

5/21/2026

43 8 Full Breakdown

Summary

Story summary

Fact-checkers say President Donald Trump’s claim that inflation was below 2 % before the Feb 28 2026 Iran strikes is false.
CPI data show inflation at 2.7 % YoY in Nov-Dec 2025, 2.4 % in Jan-Feb 2026, then 3.3 % in March and 3.8 % in April 2026.
Gas prices were $2.98 per gallon nationwide on Feb 28 2026 (lowest state $2.47), with about four stations below $2, and $2.64 in Iowa, where four stations sold at $1.97.

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Story summary

Fact-checkers say President Donald Trump’s claim that inflation was below 2 % before the Feb 28 2026 Iran strikes is false.
CPI data show inflation at 2.7 % YoY in Nov-Dec 2025, 2.4 % in Jan-Feb 2026, then 3.3 % in March and 3.8 % in April 2026.
Gas prices were $2.98 per gallon nationwide on Feb 28 2026 (lowest state $2.47), with about four stations below $2, and $2.64 in Iowa, where four stations sold at $1.97.