CNBC host Rick Santelli said Thursday that he is making “progress” in the fight against inflation after the US released new data under President Donald Trump.
Producer Price Index (PPI) It’s still According to a release from the Bureau of Labor Statistics, it increased by 0.6% in January and 0.5% in December, followed by flats in February. Santelli said the expectation was an increase in PPI, which turned out to be false. (Related: Scott Jennings asks why Americans need to trust the party to fix inflation after four years of Biden.
“In the headline, I’m hoping for 3/10. Until zero. Geese eggs. Boy, it’s progress. There’s not a very low number. Well, we were comparable to that when we had another zero in July last year. To find a lower number, you’re back in October 23, -4/10,” Santeri said. “Reduce the very important food and energy to 1/10. Down 1/10. It’s 4/10 lower than expected. Down 1/10 is also equal to last July. Find a lower number and return to the Covid Times. April 2020. Now take the energy of the original food in trade. It’s coming up 2/10. It’s 1/10 light to expect. Up 2/10. How does it fit? Well, it’ll actually be the lowest since it increased 1/10 last November.”
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“It’s okay, let’s take a step back to macros. Headlines 3.2 years from the previous year. This is a 1/10 cooler than expected, and under 3.5 in the rearview mirror. And 3.2 will be the smallest month since 2.9 last November,” continued Santelli. “Year-on-year Ex Food and Energy is 3.4, 3.4, 3.4, which is 1/10 lighter than expected and 2/10 lighter than expected. 3.4 equals where you were in November last year. To find a lower number, you’re in September of 24. And finally, the sixth part of this PPI complex will appear in Ex Food, Ex Energy and Ex Trade, which are 3.3, 3.3.
Democrats are criticizing Trump for the price of eggs, which has doubled since November 2023, especially egg prices. According to To the Federal Reserve Bank of St. Louis, culling Tens of millions of chickens in response to the outbreak of avian influenza during the Biden administration.
Agriculture Secretary Brook Rollins announced Plan To lower egg prices and create a long-term plan to fight bird flu on February 26th op-ed In the Wall Street Journal. Egg prices are available It was dropped $1.85 since Rollins Op-Ed.
Trump carried 46% of Hispanic votes, 40% of Asian votes and 13% of Black votes in 2024. According to CNN exit votes are driven primarily by concerns about the economy and inflation. The poll also said Trump won 76% of votes from those who said inflation caused “severe difficulties” and 52% of those who said they endured “moderate difficulties” due to inflation.
“To sum up, the market has lost a bit of yield, but that’s like it’s going up one basis point for a decade of 4.32. And perhaps the reason is the progress of these numbers,” Santelli said. “But, as I pointed out, we did that with these numbers last year. So we’ve made progress on going from the end of last year to the beginning of the year. But we’re not really making progress on the big picture. But certainly inflation isn’t getting worse. Undoubtedly, this is a little cooler than we expected. And it’s definitely cooler than our last PPI.”
Consumer Price Index (CPI) strike After then-President Joe Biden signed the law to multiple spending initiatives, including $1.9 trillion, the four-year high of 9% in June 2022. American rescue planin spite of caveat That inflation could rise. Prices rose more than 20% while Biden took office.
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