Longest federal government shutdown meant data was only collected for second half of November
US prices rose 2.7% in the year to November, according to federal data released a day after Donald Trump claimed they were falling “very fast” on his watch.
The latest consumer price index, released on Wednesday morning, was down from 3% in September, and short of economists’ expectations of about 3.1% for last month.
It comes amid questions over the strength of the US economy. The longest US federal government shutdown in history halted collection of key data. There was no inflation report for October, and data was only collected for the second half of November.
Trump is a lying asshole, but isn’t inflation of 2-3% pretty normal? His problem is he is lying and saying prices are falling. They won’t fall. Inflation will just drop down to normal levels, as seems to be happening. The question is whether that will be enough and whether wages increase enough to match price rises from normal inflation. Especially of there is an AI crash.
2-3% is normal, but not after periods of high inflation. Generally you would want some period of, at least, low inflation. No inflation would be far better
His claim of falling prices would be deflation, which is an economic condition that spooks most people (personally though, I think fears of short-term deflation are overblown)
Yes, the whole point is that he is telling bold faced lies.