President Trump has no excuses to make for low inflation or affordability or anything concerning the economy.

His first term record of strong growth and barely minimal inflation was so vastly better than President Biden to begin with.

And now because of a couple of individual food prices, Democrats and the lefty press are somehow trying to label Mr. Trump as an inflationist.

Here’s just a couple of numbers. Mr. Trump has been in office for eight months of consumer price index reports.

Grocery prices have risen at a 2.1 percent annual rate. That’s all. 

Now some prices jump up, like beef and eggs temporarily, but then they come down with policy adjustments. And meanwhile a whole bunch of other grocery prices will come down on their own. 

It’s the nature of the indexes, if you pay more for one thing, you’re gonna pay less for another.

When Mr. Biden was president, grocery prices increased 5.4 percent per year at an annual rate. Cumulatively, they increased 23 percent.

As for Mr. Trump’s eight months? His cumulative grocery price jump is 1.4 percent. That’s why I say he has nothing to apologize for.

Meanwhile, already typical family wages for working folks have increased more than 4 percent. That is twice the rate of grocery prices under Mr. Trump. 

And even significantly ahead of the overall inflation rate of 2.5 percent annually.

So let me get this right, grocery prices exploded under Mr. Biden. Total grocery prices have barely budged under Mr. Trump, despite a couple of outliers like beef and eggs.

Wages are rising faster than prices under Mr. Trump. But when groceries rose 23 percent under Mr. Biden, prices rose roughly $3,300 higher than wages. 

So real wages collapsed under Mr. Biden because prices were higher than wages.

Now Mr. Trump’s turned this around by a third improvement of wages above prices. Yet it’s just the beginning.

His program of tax cuts, de regulation, “drill baby drill,” and reciprocal free trade is in fact already working.

Supply side growth with lower inflation is the key to affordability and prosperity and frankly it’s the key to a hundred other good things.

In his first quarter, which ended in June, GDP rose 3.8 percent at an annual rate. The Atlanta Fed is now forecasting GDP for Mr. Trump’s second quarter ending in September to increase by 4.1 percent at an annual rate. Those are big numbers. 

That’s why Democrats shut the government down for the longest time in history, because they were intent on sabotaging Mr. Trump’s successes. 

And by the way, the public didn’t like it one bit. Not one bit. As it turns out the approval for the GOP position was better than the Democratic by more than 10 percentage points.

From Mr. Kudlow’s broadcast on Fox Business Network.