Whether Biden or Trump wins the presidential election, inflation in the United States will rise, the only question is how much. According to data analysis: During Trump's presidency, the peak inflation will be 0.6% higher than the current 3.3%, and the inflation rate will be as high as 3.8%, which is only 0.1% higher than now.

Many economists believe that if Trump returns to the White House, US inflation, deficits and interest rates will be higher than if Biden is re-elected.

The report pointed out that Trump likes to remind voters that US inflation is the highest in 40 years during Biden's presidency, but if Trump wins, don't expect him to reduce inflation faster than Biden.

If Trump is president, there is indeed a risk of re-acceleration of inflation, which is likely to cause the Federal Reserve to set interest rates at a higher level than if inflation continues to fall.

No matter who the next president is, there is a high probability of a deficit, and greater inflation is likely to come from policies such as trade.

Tariffs will significantly increase prices. The main driver of inflation under Trump will be immigration policy, which will reduce the available labor force, and most notably: unprecedented tariffs on all peripheral goods. The study pointed out that Trump's proposed taxes would be particularly inflationary, accounting for a large part of the "impact" of price increases. If implemented, companies would simply raise prices and pass the increased costs on to consumers. Several different studies estimated that Trump's proposed tariffs would be equivalent to an increase of $1,700 to $2,350 in annual household expenses in the United States.