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There was good news this week on the inflation front this week for Americans weary from high prices, as inflation eased a bit across the board, according to new data from the U.S. Bureau of Labor and Statistics.
Their data showed an inflation drop to 2.4 percent, and even more impressively, this has been the lowest 12-month increase for core items since March 2021, when Joe Biden was president.
According to a news release from the agency:
“The index for all items less food and energy rose 0.1 percent in March, following a 0.2-percent increase in February. Indexes that increased over the month include personal care, medical care, education, apparel, and new vehicles. The indexes for airline fares, motor vehicle insurance, used cars and trucks, and recreation were among the major indexes that decreased in March.”
This inflationary development comes amid the president’s hardline tariff system, implemented on April 2. This has brought many foreign nations to the negotiating table and garnered trillions of dollars in total manufacturing investments in the domestic U.S.
The rapidly changing economic landscape, as well as America’s relationship with trade partners around the world, has been a hot topic amid the tariffs, prompting President Trump to tout his administration’s success on these fronts thus far.
“Oil prices are down, interest rates are down (the slow moving Fed should cut rates!), food prices are down, there is NO INFLATION, and the long time abused USA is bringing in Billions of Dollars a week from the abusing countries on Tariffs that are already in place,” he wrote on Monday.
During remarks delivered at the National Republican Congressional Committee dinner that evening, Trump told attendees that his tariffs so far were bringing in a whopping $2 billion every day.