In speech, president delivers triumph assessment, claiming US prices are down despite official data showing otherwise

Donald Trump claimed victory on the economy after 12 months back in office on Tuesday, declaring it to be the “greatest first year in history” as many Americans express alarm over the cost of living.

In a stream-of-consciousness speech at the Detroit Economic Club, the US president delivered his gold-tinted view of how the economy has fared on his watch. Prices were down, he claimed, despite official data showing otherwise, and productivity was “smashing expectations”.