Democrats may want to sit down for this one. Preferably somewhere without a TV that is showing the latest economic numbers.
According to the Labor Department’s Consumer Price Index report [1] released Tuesday, inflation cooled sharply in June, with consumer prices falling 0.4% seasonally adjusted from May and the annual inflation rate dropping to 3.5%, down from 4.2% in May. Core inflation also eased to 2.6%.
The monthly decline was the biggest in over six years, with falling gasoline prices helping give Americans some much-needed relief. How long that will last is anyone’s guess.
This is inconvenient news for Democrats who have spent much of President Donald Trump’s second term predicting his economic policies would send prices soaring and the economy over a cliff.
Instead, the latest numbers show inflation moving in the opposite direction. The question is, how are people “feeling” when they’re going to the grocery store and restaurants and paying way more than they should be?
Of course, Democrats and their media allies will find a way to explain why Trump deserves none of the credit for bringing down the inflation rate. Had inflation gone up, however, the “Trump inflation” headlines probably would have been written before breakfast.
For now, Americans can enjoy some good economic news – while Democrats work overtime trying to explain why it’s actually terrible.