ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / ECONOMY & WORK

A top Trump official finally has some good news about grocery costs in 2026

Both the Treasury Secretary and Economic Council director claimed that prices will ease in months.
PUBLISHED NOV 17, 2025
U.S. President Donald Trump, U.S. Treasury Secretary Scott Bessent (R) and Director of the National Economic Council Kevin Hassett (Cover Image source: Getty Images/Photo by Kevin Dietsch)
U.S. President Donald Trump, U.S. Treasury Secretary Scott Bessent (R) and Director of the National Economic Council Kevin Hassett (Cover Image source: Getty Images/Photo by Kevin Dietsch)

The Donald Trump administration has been facing a lot of criticism from experts and questions from people about the impact of tariffs and rising prices. But officials of the government claim that affordability is already getting better and grocery prices are going to further come down in early 2026. The administration's top economic officials on Sunday claimed that consumers are set to feel a rebound in purchasing power as the White House hunts for ways to lower the cost of living. While they push the message, on the ground, consumers are facing the brunt of the Trump administration's economic policies as prices remain elevated. 

(Image Source: Getty Images| Photo by Chip Somodevilla)
Representative image of President Donald Trump holding a board displaying the reciprocal tariffs (Image Source: Getty Images| Photo by Chip Somodevilla)

Affordability was a key agenda item in Trump's campaign as he routinely attacked the Biden administration for mishandling inflation after the COVID-19 pandemic. But according to CNN, average grocery prices were 2.7% up in September compared with last year. Despite this, Treasury Secretary Scott Bessent said that things are going to get better as the administration's economic policies "take hold," Fortune reported. "I would expect in the first two quarters we are going to see the inflation curve bend down and the real income curve substantially accelerate, and when those two lines cross, Americans are going to feel it," Bessent said.

U.S. Treasury Secretary Scott Bessent speaking at the Oval Office (Image source: Getty Images/Photo by Kevin Dietsch)
U.S. Treasury Secretary Scott Bessent speaking at the Oval Office (Image source: Getty Images/Photo by Kevin Dietsch)

The president recently signed an executive order lifting reciprocal tariffs on coffee, tea, beef, fruits, nuts, and spices coming from Latin American countries. This move came as prices of coffee and beef are rising by up to 15% to 20% year on year, according to the Consumer Price Index, Axios reported. However, National Economic Council director Kevin Hassett claimed that it was never a fault of the tariffs. "The prices for those goods weren't necessarily going up just because of tariffs," he said on ABC's "This Week." He pointed out several external factors, including weather and disease, as the reasons behind the price increase of beef, coffee, and cocoa. He then claimed that "the prices will go down, of course," after the removal of the reciprocal tariffs, not because of the executive order but because "the supply of goods into the U.S. is going to increase."

White House National Economic Council Director Kevin Hassett speaks outside the White House West Wing on April 18, 2025 (Image source: Getty Images/Photo by Andrew Harnik)
White House National Economic Council Director Kevin Hassett speaks outside the White House West Wing on April 18, 2025 (Image source: Getty Images/Photo by Andrew Harnik)

Since he won the election, the president has also doubled down on his affordability message, trying to highlight the good things his administration has done. “We have a great economy and the prices are coming down,” Trump told reporters on Sunday night before boarding Air Force One, NBC Washington reported. He blamed Democrats for an economy with “the highest inflation in the history of our country," claiming that he had brought it down to a normal level and it's going down further.

Representative image of U.S. President Donald Trump disembarking from Air Force One (Image source: Getty Images/Photo by Anna Moneymaker)
Representative image of U.S. President Donald Trump disembarking from Air Force One (Image source: Getty Images/Photo by Anna Moneymaker)

Bessent repeated the same message. However, when asked about another relief measure of the president, the $2,000 tariff rebate check for lower and middle-income Americans, Bessent didn't clarify if it was in the works.

More on Market Realist: 

Leading bank breaks down just how much Trump’s trade policies is costing Americans

President Trump signs bill to end the longest government shutdown in US history

The price of beef has surged under Trump's presidency — and tariffs are to be blamed

MORE ON MARKET REALIST
The President recently signed an order barring corporations from buying single family homes.
8 hours ago
If consumed the product could prove fatal for those with a peanut allergy.
8 hours ago
She missed out on the car by just one number, which must have been painful.
9 hours ago
Regional grocers had a fantastic performance as they took the top three spots in the rankings.
9 hours ago
They wished to remain anonymous and took some time to seek financial and legal advice.
11 hours ago
Increased consumer spending, exports, government expenditure, and investment drove the U.S. economy's 2.5% annualized growth rate.
13 hours ago
"The A was a good guess but the B or the O could be used. Q is a rare letter but not frequently used here," a fan reacted.
19 hours ago
She had a good feeling about the item when she saw it but she wasn't sure of its value.
1 day ago
The overhaul comes as a direct result of the Trump administration's aggressive budget cuts.
1 day ago
She did not put a foot wrong in her performance which left fans and the cast impressed.
1 day ago
He also credited US President Donald Trump for his vision of re-industrialization with AI.
1 day ago
His comments were made in response to a Danish pensioner pulling their investment from the US.
1 day ago
This ruling reflects growing trade tensions between the US and Europe amidst the Greenland crisis.
1 day ago
She did not win much but it would have been better than going home empty-handed.
2 days ago
Brian Moynihan told Fox that a number of factors will contribute to the US GDP growth.
2 days ago
The President has a desire to take control of Greenland, threatening allies with tariffs.
2 days ago
It seems like the people of Denmark are replying to the US by using their own tactics.
2 days ago
It is part of a program running from 2017 which has seen almost $7 billion in payouts.
2 days ago