CNN Host Stunned Food, Fuel Prices Are Not Skyrocketing Under Trump

On Tuesday, CNN business reporter Vanessa Yurkevich appeared struck by the stability of energy and food prices in July under President Donald Trump’s administration.

According to Bureau of Labor Statistics (BLS) data released that day, the consumer price index (CPI) — a broad measure of everyday goods — rose a seasonally adjusted 0.2% in July. On CNN News Central, Yurkevich noted with apparent surprise that energy prices had declined, the overall food index held steady, and the food-at-home index saw a slight drop.

“A tamer inflation report, despite President Trump’s tariffs. This is better than expected. Month over month, as you mentioned, up 0.2%. On an annual basis, up 2.7% in July,” Yurkevich said during a Thursday segment.

“That’s also what we saw on an annual basis for the month of June. When you look at the key categories that we always look at — energy, food and shelter — energy fell by 1.1%. That was largely driven because of gas prices falling in the month of July by 2.2%,” she added.

“Look at that food! I mean, this is where people spend their money, right? Food, every single day. Food flat, 0%, and actually down at the grocery store by 0.1%,” she continued. “And then shelter. We always usually see an increase because that is what people are paying on rent. And we know that rents are rising. That is usually the biggest share of this report.”

WATCH:

Despite predictions from many economists that Trump’s sweeping tariffs would trigger a surge in inflation, that has not materialized. The stock market has climbed to record highs, and manufacturing output rose 0.1% in June following an upwardly revised 0.3% increase in May, according to Federal Reserve Board data released July 16.

Job growth, however, has slowed. The Bureau of Labor Statistics reported on August 1 that the U.S. economy added just 73,000 nonfarm payroll jobs in July.

In June during a lengthy press conference, Trump touted his tariff-heavy strategy for helping bolster the country’s economic fortunes.

“Mr. President, a leading global economist just did a one-eighty and says your tariff plan, you may have outsmarted everybody with it. What is your message?” a reporter asked.

“I love this. I love this question. This is the favorite. This is the best question I’ve ever been asked because I’ve been going through abuse for years on this. Because, as you know, we’re taking in hundreds of billions of dollars, no inflation whatsoever,” he said before he was pressed further on the matter.

“Mr. President, what is your message to critics who think your tariff plan caused a recession?” he was asked.

“I think they should go back to business school. It’s so obvious. It’s so obvious. I mean, we’re taking in billions and billions of dollars from China and a lot of other countries,” Trump responded.

“They have so much money coming in, but more important than the money coming in. We have companies coming in, factories coming in, auto plants being built. AI is being built here instead of being built all over Europe and Asia. We have all of it. We have over 15 trillion dollars, just about,” Trump added.

“I think we’re right about that number. We went to Saudi Arabia. We went to Qatar. We went to UAE. Very smart people, very smart leaders, great leaders. And we took in 5.1 trillion dollars just there without the tariffs,” Trump said. “I mean, they also like the thing called November 5th, November 6th and November 7th. That was a very good little period of time. It’s called the presidential election.”

He noted further: “I had Texas Instruments come in the other day. Big company. And they said, ‘We’re putting in 60 billion dollars into new plants and new equipment, new everything. Sir, you’re going to keep the tariffs, aren’t you?’”

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