President Donald Trump said Tuesday that a “Trump economic boom” was underway, again giving short shrift to indicators of a still-sluggish economy as Republicans gear up to defend their House and Senate majorities this year.
Trump visited the Detroit Economic Club a few hours after new government data showed mixed signals about the state of stubbornly high prices, which rose by 0.3 percent between November and December; that was in line with the previous Bureau of Labor Statistics report, in September, which also showed a 0.3 percent uptick.
Prices overall rose 2.7 percent from a year ago, according to the BLS data. That marked a decline in the broader inflation rate, which stood at 3 percent when Trump returned to office last January. Food costs ticked up by 0.7 percent between November and December, while gas-related utility prices rose by 4.4 percent. The costs of housing, transportation, medical care and clothing were also up, while appliance prices fell by 4.3 percent.
