Prices stable in last six months as Trump economy roars

Aug. 10, 2018, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement in response to the latest consumer and producer price numbers:

“The Bureau of Labor Statistics announced that seasonally adjusted prices have only increased by 0.8 percent over the past six months.  Electricity prices dropped 1.9 percent during this six month period, while the cost of shelter increased 1.5 percent.  While the headline number of a 2.9 percent unadjusted increase receives the headlines, the six-month tracking demonstrates that the economic growth spurt generated through President Trump’s economic policies have not spurred higher costs to consumers. Just one more piece of welcome news that defies so-called expert predictions.

“The good news of low inflation for the past six months was bolstered by yesterday’s release of Producer Price Index for final demand of goods only inched up .1 percent last month, demonstrating that the economic strength shown in the second quarter of 2018 is not being offset by inflation headwinds at either the producer or consumer level.”

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