The Government Is Shut Down, and I'm All for It
SCHUMER SHUTDOWN SALE: 74% Off VIP Memberships!
Trump Posted a New Clip Trolling Hakeem Jeffries...and Another That's Really Going to...
CBS News' Latest Editor in Chief Hire Will Cause Libs' Heads to Explode
Let's Stop Pretending About Charlie Kirk's Assassination
Empty Lives
Amidst Concerns About Left-Wing Lawfare, States Should Review Who They Have on Contract...
In Every Government Shutdown, the Media Are Eager Democrat Helpers
Donald Trump: Energy in the Executive
It’s Time to Choose Cooperation Over Continued Chaos
Talking Point vs. Truth
Direct Democracy Can Save Younger Generations From Penury
Duty Drawback Benefits American Manufacturers and Exporters
From Classrooms to Unions: How 'Anti-Fascism' Poisoned Education
The Trump Administration Is Pursuing Peace, Now It’s Time for the Biggest Challenge...
Tipsheet

The July Inflation Report Is Here

AP Photo/Evan Vucci, File

July's Consumer Price Index (CPI) report indicates that inflation is cooling more than expected, providing a boost to stock futures and placing greater weight on the U.S. dollar.

Advertisement

Consumer prices rose 2.7 percent in the 12 months since last July. This matched the 12-month period since June and came in below the expected rate of 2.8 percent. Core CPI, often considered a more accurate reading of long-term trends in the economy, rose .3 percent and 3.1 percent from a year ago.

Shelter costs ticked up 0.2 percent, accounting for most of the index’s gain, according to the BLS. Food prices held steady, while energy prices dropped 1.1 percent. Even CNN couldn't spin the good news for President Trump: 

New vehicle prices, often sensitive to tariffs, were unchanged, but used cars and trucks climbed 0.5 percent. Transportation and medical care services each rose 0.8 percent.

Stock market futures posted gains following the announcement, while Treasury yields fell.

Advertisement

Household furnishings and supplies rose 0.7 percent after a 1 percent jump in June. Apparel inched up 0.1 percent, and core commodities gained 0.2 percent. Canned fruits and vegetables prices, typically imported and tariff-sensitive, were unchanged.

Former White House economist Jared Bernstein said on CNBC: “The tariffs are in the numbers, but they’re certainly not jumping out hair on fire at this point."

This is the first major release of data since President Trump fired Erika McEntarfer, the head of the Bureau of Labor Statistics (BLS), following weak reports, which he claimed were rigged. To replace her, Trump said on Monday he would nominate E.J. Antoni, the chief economist at the Heritage Foundation, (and Townhall contributor) who received his PhD in economics from Northern Illinois University. He is a long-time critic of the BLS. 

Editor's Note: President Trump is leading America into the "Golden Age" as Democrats try desperately to stop it.  

Help us continue to report on President Trump's successes. Join Townhall VIP and use promo code FIGHT for 60% off your membership.

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos

Advertisement
Advertisement
Advertisement