Price Hikes Linger, Trump's Claims Ring Hollow When President Donald Trump spoke in Ohio last month, he repeated his familiar claim that prices are dropping fast and it's only your 401(k) that's going up.
However, this assertion doesn't align with the latest inflation data. The Consumer Price Index (CPI), a key measure of inflation, rose 3. 4% in July from a year earlier.
While this rate is lower than its pandemic era highs, it remains above the Federal Reserve's 2% target. The numbers suggest moderation rather than outright decline.