WASHINGTON (AP) — Inflation has crept up in three of the past four months and now sits just a bit higher than it was a year ago—a time when rising prices played a role in derailing then-Vice President Kamala Harris’s bid for the presidency. But you wouldn’t get that impression from President Donald Trump’s recent remarks—or even from some top officials at the Federal Reserve.
Speaking before the United Nations General Assembly late last month, Trump painted an upbeat picture of the economy, declaring, “Grocery prices are down, mortgage rates are down, and inflation has been defeated.” It’s a message that seems at odds with the most recent data, which suggests that inflation, while not surging, remains persistently above pre-pandemic levels.
This more optimistic outlook isn’t limited to the White House. At a closely watched Fed event, some policymakers also hinted at a cooling inflation trend, even as the numbers suggest a more complicated economic landscape.