NEW DATA: As Trump’s War With Iran Hits 2 Months, Inflation Surges and Gas Prices Hit Historic Highs Arrow

New economic data released today reveals that core inflation jumped to 3.2% in March, the highest in three years, largely as a result of Donald Trump's unpopular war of choice with Iran. Consumer spending grew at a meager 1.6%, the slowest rate in a year, while Americans' personal savings rate hit its lowest level in nearly four years. Economists estimate that inflation is likely to be even worse in April and May.

Meanwhile, additional data released today for GDP for the first quarter of 2026, which doesn't capture the worst of the impacts from the war with Iran, showed economic growth continuing to fall far short of Trump's promises.

Today's economic reports follow data released earlier this month which showed inflation rising almost a full point higher than the month before and higher than it was when Trump took office. According to AAA, the price of a gallon of gasoline sits at a whopping $4.30, the highest level since Trump's war with Iran began over two months ago.

Reminder: Trump repeatedly promised he would "lower costs on Day One," and recently called inflation "fake."

In response, DNC Rapid Response Director Kendall Witmer released the following statement:

"Donald Trump has forced Americans to bear the brunt of his deadly and costly foreign war, while they struggle to pay their rent, buy groceries, or afford lifesaving medicine. Trump vowed to lower prices but instead he has driven prices even higher while handing out favors to his wealthy and well-connected friends and slashing funding for health care and food assistance. Billionaires and big corporations are cashing in on Trump's presidency, while everyone else gets left behind - and Trump couldn't care less."

The average American family could spend an additional $5,000 this year because of Trump and Republicans' disastrous trade war, spiking gas prices, higher grocery costs, and health insurance premium increases. Meanwhile, according to the Pentagon, the Iran war has already cost taxpayers at least $25 billion - without accounting for costs of damage repairs, which brings estimates closer to $40-50 billion.

It's no wonder Trump's approval just hit the lowest rating of his second term, and nearly 70% of Americans disapprove of Trump's handling of the cost of living, including more than 40% of Republicans.