Under President Donald J. Trump’s leadership, America is overcoming inflation by entering a new Golden Age as characterized by Consumer Price Index data showing reduced expenses, increased wages, and economic prospects for everyone.
In May, the annual increase in the Consumer Price Index was 2.4%, showing a smaller rise than projected by the so called “experts”.
This indicates that the tariffs imposed by President Trump have not influenced prices of common consumer goods.
Consumer Price Index – By the numbers
Economists surveyed by financial data firm FactSet anticipated a 2.5% year-over-year increase in the Consumer Price Index last month, up from the 2.3% rate seen in April.
Core inflation, also known as the Consumer Price Index data that excludes food and energy prices, increased by 2.8% in the last year, as reported by the Bureau of Labor Statistics. According to a FactSet survey of economists, they had anticipated a 2.9% rise for this metric.
The Consumer Price Index (CPI) monitors price changes for goods and services commonly purchased by consumers.
Here’s what you need to know from the latest Consumer Price Index:
- In May, inflation came in lighter than expected for yet another month.
- Since President Trump took office, inflation has come in below economists’ expectations every single month.
- Since President Trump took office, inflation has come in below economists’ expectations every single month.
- Core inflation held steady and remains at the lowest level since March 2021.
- Under President Trump, core inflation has tracked at just 2.0% on an annual basis — levels not seen since the first Trump Administration, when prices were low and stable.
- Under President Trump, core inflation has tracked at just 2.0% on an annual basis — levels not seen since the first Trump Administration, when prices were low and stable.
- Wage growth remains strong under President Trump.
- In May, real wages for production and nonsupervisory workers saw the highest monthly increase in nearly a year — rising each month since President Trump took office and up nearly 2% over last year.
- The average private sector worker is on track to see their real earnings increase by around $1,200, adjusted for inflation.
- Prices for everyday Americans continue to fall.
- Energy prices fell by 1.0% over the last month — down 3.5% over the past year.
- Gasoline prices have fallen each month since President Trump took office, down 2.6% over the past month and down 12% over the past year.
- Prices in key areas — such as meats, poultry, eggs, airfares, used and new cars, and apparel — all went down over the past month.
Here’s what they’re saying:
- CNN’s Matt Egan: “We got ANOTHER month of positive inflation news. Despite these historic tariffs, the latest numbers do show that inflation remained relatively tame in May … This was better than expected … We did see a drop in energy prices. In particular, gas prices were low.”
- CNBC’s Mike Santoli: “There’s no way to look at these numbers and say they’re not welcome news.”
- CNBC’s Steve Liesman: “Not only did we get a decline in inflation expectations earlier this week from the important New York Fed report … I do not see broader impacts on inflation from the tariffs.”
- CNBC’s Rick Santelli: “Inflation certainly looks like it is cooling.”
- Fox Business Network’s Maria Bartiromo: “That is much better than expected.”
- Commentator Adam Johnson: “Now we’re talking about numbers that are down in the low twos — under 2.5% — and we’re seeing that now for three months in a row, so this is wonderful news.”
Local News Via - MyrtleBeachSC.com
