July Energy and Food Prices Under Trump Administration

CNN business reporter Vanessa Yurkevich seemed surprised on Tuesday by the energy and food prices during July under President Donald Trump’s administration.

The Consumer Price Index (CPI), which measures changes in prices paid by consumers, saw a seasonally adjusted increase of 0.2% in July, as reported by the Bureau of Labor Statistics (BLS). On “CNN News Central,” Yurkevich noted the decline in energy prices, which was a positive indicator, while the food index saw no increase, and even decreased slightly at home.

“Despite President Trump’s tariffs, the Inflation Report shows a better-than-expected outcome,” Yurkevich stated. “The monthly increase is 0.2%, leading to an overall rate of 2.7% in July.” She pointed out that this trend has been consistent in previous years, mentioning a 1.1% drop in energy prices.

“Look at food prices! This is where people really feel the impact,” she continued, emphasizing that expenses in this category often define monthly budgets. “Rent is usually a big part of this report, and it’s been on the rise.”

Interestingly, inflation hasn’t surged as many economists had anticipated, despite concerns that Trump’s tariffs would trigger such an outcome. The stock market has seen significant gains recently, reaching record highs, following a revision of manufacturing output for May and June.

On a less positive note, employment growth appears to have slowed, with the BLS reporting that the U.S. economy added just 73,000 non-farm payroll jobs in July.