White House says inflation falls to six-year low
Washington, July 17
The White House has hailed the latest inflation figures as evidence that President Donald Trump's economic policies are delivering results, pointing to falling consumer prices, rising real wages and lower prices at major retailers as signs that the administration's agenda is benefiting American families.
Opening the daily White House briefing on Thursday, Press Secretary Karoline Leavitt said the latest Consumer Price Index (CPI) report had exceeded expectations.
"Tuesday's CPI report confirmed what President Trump predicted -- prices are falling, and this administration's economic policies are working," she added.
"Inflation dropped 0.4 per cent last month, beating expectations and marking the largest monthly decline in more than six years."
Leavitt said price declines were recorded across several sectors.
"Prices fell, including for gasoline, electricity, non-prescription drugs, car insurance, medical care services and hotels, delivering relief for American working families."
She also highlighted gains in workers' earnings.
"We also saw real weekly earnings rise in the month of June. For private sector workers, real wages have increased by roughly $1,000 since President Trump took office, after falling nearly $3,000 during the previous administration."
Calling the figures "real progress", Leavitt said the administration remained focused on reducing household costs.
"There is still more work to do, no doubt, which is why President Trump remains laser focused on lowering costs and raising wages for working families across the country."
The White House also welcomed recent announcements by major retailers to cut prices.
"Just last week, Walmart and Sam's Club announced they will be lowering prices on thousands of items in their stores across the country," Leavitt said.
"Shoppers can expect meaningful savings on groceries, household essentials, outdoor living products, toys, apparel and other everyday staples."
She added: "President Trump said, Walmart answered his call and stepped up in a big way, and we commend them for that. We hope other major retailers will follow the lead of this patriotic American company."
Responding to questions later in the briefing about Trump's planned national address on election integrity, Leavitt rejected suggestions that the administration was shifting attention away from the economy.
"The administration and especially this President, are able to walk and chew gum at the same time and tackle a number of issues on a number of different subjects every single day," she said.
She added that Trump would continue travelling across the country to promote his economic programme, saying he had recently visited a Mack truck facility in Pennsylvania that had benefited from the administration's policies.
Inflation has remained one of the most closely watched economic indicators in the United States, influencing interest-rate decisions, consumer spending and political debate.
Both the White House and the Federal Reserve have closely monitored price trends following several years of elevated inflation after the Covid-19 pandemic.
— IANS
Reader Comments
Interesting how they're highlighting Walmart's price cuts. In India, the small kirana stores have been quietly absorbing price rises for years. But it's good to see American consumers getting some relief. Hope this trend continues rather than being just pre-election optics. 🇮🇳
This feels like classic political spin, yaar. One good month doesn't make a trend. Remember when our own government used to claim inflation was under control while onion prices skyrocketed? I'm skeptical about these numbers. Let's see the data from independent sources before celebrating.
Real wages rising by $1,000 since Trump took office - that's actually impressive. As someone who works in finance in Bangalore, I know how hard it is to beat inflation. The Fed and White House coordination seems better than what we see with RBI sometimes. But I echo the caution - this needs to be sustained.
Meanwhile, in India, we're still dealing with 5-6% inflation. The US managing to pull down inflation while growing wages is no joke. Trump's policies might be controversial, but on the economic front, he's delivering. Just wish our leaders would focus similarly on core inflation rather than politics. 🤔
The Walmart price cut mention is interesting - it's like how our Big Bazaar used to have 'Sabse Saste Din' before Reliance took over. But let's be real: corporate price cuts are often temporary promotions, not structural changes. The real measure will be if these lower prices stick beyond the news cycle.
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