Core pce inflation averaged 1.61% year over year under Trump 1.0, but through eleven months of 2025 it averages 2.79%, 73% higher

This higher inflation level, measured on a year over year basis, has persisted for 19-months from April 2024. We're just going sideways, not coming down. 

Next we'll hear from Trump that this is the new normal and that higher inflation is good akshully.

No, the Fed started cutting in September 2024 in error, obviously, and Trump wants the Fed to cut some more.

Meanwhile Jeff Cox for CNBC is just phoning in the story: 

Fed’s main gauge shows inflation at 2.8% in November, edging further away from target

... The personal savings rate rose in November to 3.5%, down 0.2 percentage point from the prior month. ...

How does the personal saving rate rise when it's down 0.2, Jeff? 

Yes, the personal saving rate fell from 3.7% the prior month to 3.5% in November.

People are paying for higher prices at the expense of saving. 

 

Trump can jerk everybody around about this and that, day in and day out, but he can't do anything about inflation

 Natural gas prices soar as cold snap blasts across the U.S.

Natural gas prices soar as Arctic cold to blast Upper Midwest and descend across U.S.

CNN poll finds Americans by 2 to 1 think the economy, not immigration, is the number one issue, and 55% say Trump isn't just failing but is making it worse

 CNN poll finds majority of Americans say Trump is focused on the wrong priorities 

... Most, 64%, say he hasn’t gone far enough in trying to reduce the price of everyday goods. ... Only one-third of Americans now say they believe that Trump cares about people like them, down from 40% last March and the worst rating of his political career. ... 

 

 

Core producer prices have been increasing year over year at 2.9+% for four straight months, but we're supposed to believe inflation is waning

 

100% ground beef averaged a record $6.089 in year one of Trump 2.0, and hit a record high $6.687 in Dec 2025 to celebrate the New Golden Age for them, not for you

 Like many other such graphs, the graph for 100% Ground Beef won't show the 2025 average because the government shutdown meant no figure for October in the data.

The average $6.089 in 2025 is for eleven months without October, with October obviously a high figure, too, which means the annual average is no doubt higher than $6.089.

 

 

The average price of gasoline in year one of Trump 2.0 . . . SUCKED

 

Food at home inflation was 2.4% year over year in Dec 2025, and there has still been no food deflation like there was in 2009 or 2016 to relieve the have-nots of America

 

food at home inflation 2.4% yoy

food inflation 3.1% yoy

In December 2025, gasoline still averaged over $3/gallon, electricity was effectively still at the all time high, and natural gas was still at the crazy 2022-2023 levels

 

Mark Zandi: Missing data from October and November combined with tariffs means inflation is still probably higher than it appears, closer to 3% year over year rather than 2.6%

From the story here: 

... “The bottom line is, I think inflation is still uncomfortably high,” said Mark Zandi, chief economist at Moody’s. “Inflation for staples, necessities, remains elevated.” ... 

Tariffs levied by President Donald Trump have put upward pressure on the inflation rate, Zandi said. ...

“I think were it not for the tariffs, we would have been back to target already,” Zandi said. “But tariffs have pushed up inflation a little over half a [percentage] point.” ...

Overall, the headline inflation rate is higher than it appears on paper, Zandi said. The record-long government shutdown, which ran from Oct. 1 to Nov. 12, prevented federal statisticians from collecting typical inflation data in October. Without that data, the BLS assumed that no price increases had taken place during the month for most categories of goods and services, Zandi said. Moody’s estimates the annual CPI inflation rate would be around 3% if that data were included, he said. ...

Overall CPI inflation, not seasonally adjusted, came in at 2.7% year over year in December 2025, while core CPI inflation was lower at 2.6% in today's report:

overall

core

 

Long yields have defied Fed interest rate cuts since September 2024, signaling persistent higher inflation