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Despite continued fearmongering from the left and the mainstream media about Trump tariffs raising prices, the September inflation report showed inflation coming in lower than expected.
According to a delayed BLS report, the Consumer Price Index showed a month-over-month increase of just 0.3%. The Dow Jones survey had predicted that number would be 0.4%.
The year-over-year inflation came in at 3%, and while still above the Federal Reserve's target rate of 2%, that's still below the Dow Jones prediction of 3.1%.
Core CPI, which excludes food and energy, also came in lower than expected both month-over-month and year-over-year.
The biggest price increase came from gasoline prices, which jumped 4.1%. Shelter costs as well as new car prices also rose, but new car prices actually fell 0.4%. This seems to indicate that tariffs are still not playing a major role in rising costs.