This morning’s Producer Price Index report showed that goods prices jumped 1.1% last month, the biggest monthly surge since August 2023, led by a 48.9% spike in fresh and dry vegetables, plus increases in diesel, gasoline, jet fuel, and eggs. This is on top of January’s troubling 0.5% monthly surge that was nearly double what forecasters predicted.
Out-of-control prices are becoming a defining feature of the Trump economy, and families are souring on the promise that this administration will bring down costs soon:
- Consumer prices rose 2.4% year over year in February, with food costs up 3.1% and grocery staples like ground beef and coffee up more than 15% from a year ago.
- The University of Michigan Consumer Sentiment Index sits at just 55.5, the lowest level in over a decade. Year-ahead inflation expectations stalled at 3.4%, exceeding readings seen in 2024 and remaining well above the pre-pandemic range.
Americans are not overreacting. They are right to be alarmed as Trump’s economy showed signs of stagflation before he chose to start a war with Iran. Now, nearly three weeks into Iran, it’s clear Trump’s foreign policy agenda is pouring fuel on the fire:
- Gas prices have jumped nearly 27% since Trump started a war with Iran, surging toward $3.79 a gallon and climbing higher each day.
- Jet fuel costs spiked 58% in the first week of conflict alone, and airlines are warning they will have to raise flight prices.
- American farmers, in the middle of planting season, are watching fertilizer prices jump more than 30% in a single week because one-third of the world’s fertilizer ingredients move through the Strait of Hormuz, which is now effectively shut. Experts believe it could raise grocery prices by 2%.
“American families were already hurting before this war started. Now, they are bracing for what comes next. Higher grocery bills, more expensive flights, and gas prices near five dollars a gallon are not distant threats. They’re coming if Trump doesn’t change course, and working families are going to bear the full weight of it all,” said American Bridge 21st Century spokesperson Brandon Weathersby.
Published: Mar 18, 2026