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Real GDP growth rate by president since 1947 (the quarter in which a new president takes office is attributed to the incoming president) [14] President Political party Period of presidency Average annual real GDP (in trillions) Average annual percentage growth Harry S. Truman (data available from 1947) Democratic: 1945–1953 2.43 4.88%
Inflation rose to a high of 4.7% during Johnson's presidency in 1968 (it reached 6.2% in 1969, but he was only president for the first 20 days of the year, of course).
The United States Consumer Price Index (CPI) is a family of various consumer price indices published monthly by the United States Bureau of Labor Statistics (BLS). The most commonly used indices are the CPI-U and the CPI-W, though many alternative versions exist for different uses. For example, the CPI-U is the most popularly cited measure of ...
Gas peaked at over $5 for the first time ever in June 2022. When adjusted for inflation, Trump’s average is $3.18 in 2024 dollars, 21% less than Biden’s inflation-adjusted price of $3.86.
Average Annual Inflation Rate: 2.8% George W. Bush’s term was characterized by periods of recession — first in 2001, then in 2008 — which kept inflation in check.
The concept of core inflation as aggregate price growth excluding food and energy was introduced in a 1975 paper by Robert J. Gordon. [1] This is the definition of "core inflation" most used for political purposes. The core inflation model was subsequently developed and advocated by Otto Eckstein, in a paper published in 1981. [2]
The incumbent president is Joe Biden, who assumed office on January 20, 2021. [13] The president-elect is Donald Trump, who will assume office on January 20, 2025. [14][15] Trump will be the second president after Grover Cleveland to serve two non-consecutive terms, as the 45th and 47th president. [16]
The California Association of Realtors predicts the median home price in the state will go up 6.2% next year to $860,300. This year’s average is $810,000, down 1.5% from 2022. The 2024 ...