White House press secretary Karoline Leavitt laid out on Tuesday why “panicans” are wrong in their doubt of President Donald Trump when it comes to the economy, as wages continue to outpace inflation.
Leavitt touted the positives of Trump’s economy, seven months into his adminsitration on the heels of Tuesday’s July inflation report, which again beat expert forecasts.
“We continue to see positive economic reports across the board. Today’s CPI report revealed that inflation beat market expectations once again, and inflation remains stable. Overall inflation has run at a 1.9 average annual pace in President Trump’s first six months in office,” she told reporters.
The consumer price index rose 2.7 percent year-over-year, according to the Bureau of Labor Statistics, beating expectations of a larger number.
“Prices for everyday goods continue to decline. Energy prices fell in July, including gasoline, which is down nearly 10 percent over last year, and propane, which is down 2.5 percent over last year as well,” she said. “Egg prices fell once again in July and are down 20 percent since President Trump took office. Shelter inflation, the largest contributor to overall inflation, is at its lowest level since October of 2021.”
Leavitt also highlighted wage growth under Trump and that wages are outpacing inflation, meaning Americans, generally, are seeing their income improve at a faster pace than prices of goods are growing.
“Wage growth for American workers is beating inflation once again,” Leavitt said. “As inflation declines, this administration continues to be wholeheartedly committed to putting more money back into the American people’s pockets. American real wages are up 1.3% over last year, and have increased each month since President Trump took office, and small business optimism, according to this morning’s report, has also reached a five-month high.”
Leavitt encouraged Americans not to listen to “Panicans” and trust in Trump’s vision.
“Ignore the Panicans and trust in President Trump. That is our motto here at the White House. The America First economic agenda is working.”
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