Fact Check: Trump Says Core Inflation Fell to 1.7% In Last Quarter of 2025

Claim: President Trump said on Tuesday night that the core inflation rate had fallen to 1.7 percent in the last three months of 2025.

Verdict: True

Using the standard three-month annualized measure of inflation based on the seasonally adjusted core consumer price index (CPI-U less food and energy), the rate was about 1.7 percent at the end of 2025. That's the lowest three-month annualized rate since the first quarter of 2021, the end of President Trump's first term in office and the beginning of Joe Biden's.