Photo: Moment RF
Despite the mainstream media's fearmongering about tariffs and the Trump economy, we received a great report from the Bureau of Labor Statistics on inflation in the month of April, which came in below expert estimates.
According to the official numbers, the consumer price index rose by just 0.2% month over month. Experts had estimated that that number would be 0.3%. Meanwhile, the annual inflation rate came in at 2.3%, while experts expected a 2.4% increase.
This is the lowest annual inflation that we have seen in the United States since February of 2021, when former President Joe Biden first took office.
According to this report, one of the largest contributors to overall inflation was shelter costs, which were up 0.3% and accounted for over half of the monthly increase. This could just be yet another artifact of Bidenomics.
Heritage Foundation economist EJ Antoni told Fox Business that reported shelter costs tend to lag behind the actual numbers, saying, "You have to essentially realize that much of what we're seeing today in terms of price increases are actually increases that occurred at the end of last year."