Trump claims prices falling while inflation data shows prices still rising

On August 11, President Trump said food and grocery prices are falling fast. But new data tells a different story. The Consumer Price Index rose 3.4% in July compared to a year earlier. Prices also went up 0.1% from June to July. The Federal Reserve's preferred measure, called PCE inflation, stood at 3.7% in June. That is nearly double the Fed's 2% target. Trump's claim that prices are coming down is not the same as inflation slowing down. When inflation slows, prices are still rising, just more slowly than before. Core PCE inflation, which removes food and energy costs, fell slightly but remained the second highest reading since October 2024. Many Americans are still paying more than they were a year ago.