In an official press release, the Trump White House is touting a cheaper Thanksgiving as proof it’s “crushing inflation,” but the price drop it’s celebrating comes from retail strategy, not economic policy. The claims are based on the Wells Fargo Thanksgiving Food Report , published by the Wells Fargo Agri-Food Institute, which shows the cost of a ten-person holiday meal is about 2–3% cheaper than last year, mainly because consumers are switching to private-label goods and stores are slashing some prices to compete with each other.

The reports states that the broader Consumer Price Index still shows grocery prices up 2.7% year over year, meaning overall food costs continue to rise despite isolated markdowns on holiday staples. Inflations persist despite Trump’s denials.

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