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The Progressive

NewsWire

A project of Common Dreams

For Immediate Release
Contact:

Rising Core Inflation Shows Impact of Trump’s Trade War

Today, the Bureau of Labor Statistics released the Consumer Price Index for July, showing that headline inflation was at 2.7 percent in July, but core inflation rose to 3.1 percent. In response, Natalie Baker, director of economic analysis at the Center for American Progress, issued the following statement:

The consistent upward trend in inflation is the latest sign that President Trump’s reckless trade war and the resulting economic uncertainty are wreaking havoc on family budgets and the American economy. Combined with the lackluster jobs report and recent GDP numbers, this is a clear warning sign that the president’s policies are raising prices and squeezing consumers. It’s a chilling reminder that the risk of stagflation is growing by the day.

The Center for American Progress is a think tank dedicated to improving the lives of Americans through ideas and action. We combine bold policy ideas with a modern communications platform to help shape the national debate, expose the hollowness of conservative governing philosophy and challenge the media to cover the issues that truly matter.