Top Trump economist calls new inflation data ‘blockbuster,' says economy mirrors first term gains

Core Insights - The consumer price index (CPI) report indicated that inflation rose less than expected, with a 0.2% increase over the two months from September to November and a year-over-year increase of 2.7% [8] - Core inflation, averaged over the past three months and annualized, is reported at 1.6%, reflecting the effectiveness of the Trump administration's policies to enhance aggregate supply and lower prices [4][7] - The CPI report was praised as "astonishingly good," with comparisons drawn to previous economic conditions during Trump's first term, where growth and inflation were similarly favorable [7] Economic Performance - The Bureau of Labor Statistics reported that core prices, excluding volatile items like gasoline and food, rose by 0.3% month-over-month and 2.6% year-over-year, aligning with economists' expectations [9] - Despite the positive CPI report, consumers are still experiencing price increases, particularly in food, which rose by 2.6% compared to the previous year, along with higher costs in energy, transportation, and housing [10] Job Market - The U.S. added 64,000 jobs in November following a loss of 105,000 jobs in October, indicating a recovery in the job market [5]