President-elect Donald Trump acknowledged lowering grocery prices will be "very hard" but said it remains possible through increased energy production and fixing supply chain issues. Trump, who centered his 2024 campaign on lowering costs for families, claimed the Biden-Harris administration's policies drove prices higher. While inflation hit a 40-year high of over 9% under Biden, recent CPI data shows it cooled to 2.7% in November. Trump also advocated for tariffs on nations like China, Mexico, and Canada to address economic concerns, sparking warnings from economists that tariffs could raise consumer costs.
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