Tariffs Are Not Squeezing American Consumers or Businesses
If tariffs were inflationary, this week’s economic data would be flashing red. Instead, they’re flashing something else entirely: discipline, resilience, and bargaining power.
The Consumer Price Index (CPI) came in nearly flat for May. Headline CPI rose just 0.1 percent, and core inflation excluding food and energy also rose a meager 0.1 percent. Over the last 12 months, all-in prices are up just 2.4 percent and core prices are up just 2.8 percent.
The Producer Price Index (PPI) tells a similar story. The Bureau of Labor Statistics reported Thursday that final demand prices rose just 0.1 percent. Prices for goods were up 0.2 percent and are up just 1.3 percent over the past year. Services
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