The consumer price index, a broad measure of goods and services costs across the U.S. economy, fell a seasonally adjusted 0.1% in March, putting the 12-month inflation rate at 2.4%, down from 2.8% in February.
Wall Street had been looking for headline inflation of 2.6% and core at 3%, according to the Dow Jones consensus.
“Just out: ‘INFLATION IS DOWN!!!'” Trump posted on Truth Social Thursday morning.
“Today’s new Consumer Price Index reveals inflation fell to 2.4% in March, smashing expectations for the second straight month — and the first drop in consumer prices in several years. Under President Trump, America is back — but inflation is not,” the White House added. “President Trump is making good on his promise to deliver lower costs for Americans, with prices for everyday goods seeing across-the-board declines. Prescription drug prices saw the largest monthly decline on record. Prices for airfare, used vehicles, and car insurance all decreased. Energy prices fell 2.4% in March, driven by plummeting gas prices across the country. As President Trump pursues the largest tax cuts in history, an unprecedented deregulatory agenda, and a manufacturing boom, the American economy is poised to prosper like never before.”
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