Inflation SPIKES As Trump’s Failed Economic Policies Take Their Toll

Core inflation rose in the last month – and is up over the past year, considerably – thanks to Donald Trump’s on-again, off-again trade war. Businesses are running out of the excess supplies that they purchased before the trade war, and now they are passing the price increases for new goods onto consumers, according to the economic data released this week. This comes as Trump brags about how many “billions” his trade war is bringing into the country, ignoring the fact that WE are the ones paying those tariffs. Ring of Fire’s Farron Cousins explains what’s happening.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

A common refrain that we have seen from Donald Trump in truth social posts in speaking with reporters interviews he is doing. He's constantly telling us how amazing the economy is, right? Everything is going great. He says the economy is booming. He promised we were gonna make America wealthy again. Mah. And by every single economic indicator, with the exception of one. Everything in the economy is worse today than it was a year ago. We got more data from the Bureau of Labor Statistics this week, which will probably be the last set of data we get before the, you know, project 2020 fives. EJ an Anthony takes over the organization, but the latest round of data we got is absolutely horrific. It shows that inflation is still increasing, but don't worry because they also say it's increasing the amount we thought it would increase by, okay, well it's not increasing by the amount we all had hoped it would increase by, which was negative, but inflation went up.

In fact, over the last 12 months, inflation is up 2.7%. Core CPI consumer price index is up 3.1% over the last 12 months. Consumer price index is exactly what it sounds like. The amount of money that consumers are paying for goods and services. In fact, the cost of healthcare, housing, medical services, clothing, furniture and travel and other everyday goods like cars, the price of all of those has gone up. But this report from the Bureau of Labor Statistics says that the cost of food didn't go up in the last month, and also the price of gasoline dropped 2.2%. So gasoline prices dropping is literally the only good economic indicator we have right now. However, the report also points out that because the cost of everything up has gone, everything else has gone up so much, uh, it completely offsets any gasoline savings you may have personally.

So you're still losing money every month because of Donald Trump's policies. And yes, all of the prices on all of these things that has gone up and continues to go up is a direct result of Donald Trump's trade war. He is directly responsible for all of the price increases that you see today. All of them, it's all him. He did that with, you know, some help from Republicans in, in Congress who refused to vote to strip him of his tariff powers. So this is not passive, this is not coincidental. This was an active thing that Trump and the Republicans did. That is now costing you more money every month. But you know, what about those, uh, food prices not going up as the report says, because something interesting is also buried in the report.

In the beginning, they tell us, you know, food prices stayed the same, no increase. And then later in the report it actually details exactly how much food prices have gone up, right? Which is weird 'cause you said they didn't go up. But then when you break it down and give us the numbers, it shows that, oh my God, it went up by a lot. And if anybody's been to the grocery store anytime in the last few weeks, you also know that yeah, the prices are going through the roof. Here they are. Meats increased 1% in the, just the last month and 5.8% in the past year. Fruits increased by 0.4%. Citrus fruits increased, increased by 2% because the areas where citrus fruits grow have seen all of their workers deported. So yeah, fruits, vegetables, meats, you know, all the foods basically have gone up and they've gone up by a lot over the last 12 months and a lot in just the last, you know, four weeks.