White House says inflation falls to six-year low
Washington: 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.