The latest data shows that the economy proved to be relatively stable once again despite all the left-wing talking heads predicting that Trump’s economic policies will destroy the world.
U.S. consumer prices rose only a tiny tick, unemployment didn’t really see much of an impact, and inflation is still sitting below the disastrous Biden years.
Per Breitbart News:
The consumer price index, the government’s main inflation indicator, 0.1 percent compared with a month earlier, the Department of Labor said Wednesday. Core prices, a measure that excludes volatile food and energy prices, also climbed just 0.1 percent.
Compared with a year ago, consumer prices are up 2.4 percent. Core prices have risen 2.8 percent.
Economists had forecast prices would rise 0.2 percent, matching the tame inflation figure reported for April. Core prices were expected to rise 0.3 percent, a slightly faster pace than the 0.2 percent seen in the prior month.
President Donald Trump’s presidency has been characterized by low inflation, defying predictions that his trade policies would push up consumer prices.
Energy prices fell 2.4 percent in May, led by a 2.6 percent decline in gasoline. Compared with a year ago, gasoline prices are down 12.0 percent.
Grocery prices rose 0.3 percent, partially reversing the prior month’s 0.4 percent decline. Over the past year, grocery prices increased 2.2 percent. Restaurant prices also rose 0.3 percent and are up 3.8 percent over the past year. Egg prices dropped 2.7 percent following the prior month’s 12.7 percent decline.
Durable goods prices, the broadest category that economists had thought would be heavily hit by tariffs, fell 0.1 percent in May and are flat compared with a year earlier. Nondurable goods prices fell 0.3 percent. Excluding food, nondurable goods prices dropped 0.9 percent.
Used car prices fell by 0,5 percent, too.
Inflation did go up, but only by 0,2 percent — which is mostly flatlining from the previous period and is not a meaningful growth at all.
So, despite the doomsayers, Trump has not tanked the economy.
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