 Trump offered a new claim about inflation under President Joe Biden. The rally, wrote Luscombe, touched on the surreal. Biden, he insisted, had raised the price of bacon fourfold. We don't eat bacon anymore, Trump said. Well, that's not true. Bacon prices in the last full year of Trump's presidency averaged $5.58 per pound, peaked at $7.31 per pound in 2022, and the last monthly stats stood at $6.82 per pound.