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WASHINGTON (AP) — Inflation has ticked up in three of the past four months and now sits just above where it was a year ago—a period when rising prices played a role in derailing then-Vice President Kamala Harris’ presidential bid. Despite this trend, recent remarks from both President Donald Trump and some Federal Reserve officials paint a far more optimistic picture.
Speaking to the United Nations General Assembly last month, Trump declared, “Grocery prices are down, mortgage rates are down, and inflation has been defeated.” That confident tone has also been echoed by some at the Fed, even as underlying data points to a more nuanced reality.
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