Trump: "Inflation is going down a lot. "The numbers: It's not so much Trump turned to social truth to declare that inflation is "down a lot" and that the income of individuals and companies is "on the way up," declaring that "America's golden age is upon us. In fact, inflation is much higher. Consumer prices in the US rose 3.7% year-on-year in September, compared to 3.4% in August and 2.4% in January, when Trump had not yet dragged America into war with Iran. Gasoline prices jumped by 9.1% in September alone. Inflation has now been above the Fed's target for more than five years, and in September the Fed raised interest rates for the first time in more than three years to try to cool it down. As for income, real average hourly earnings are down 0.7% from a year ago, meaning paychecks are losing the race against prices. Adjusted for inflation, Americans' disposable income actually fell in September, according to the Commerce Department's own data released yesterday. Actually, Trump is lying. again. But with midterms on Tuesday, the golden age should arrive by the end of the week.

Trump: "Inflation is going down a lot. "The numbers: It's not so much Trump turned to social truth to declare that inflation is "down a lot" and that the income of individuals and companies is "on the way up," declaring that "America's golden age is upon us. In fact, inflation is much higher. Consumer prices in the US rose 3.7% year-on-year in September, compared to 3.4% in August and 2.4% in January, when Trump had not yet dragged America into war with Iran. Gasoline prices jumped by 9.1% in September alone. Inflation has now been above the Fed's target for more than five years, and in September the Fed raised interest rates for the first time in more than three years to try to cool it down. As for income, real average hourly earnings are down 0.7% from a year ago, meaning paychecks are losing the race against prices. Adjusted for inflation, Americans' disposable income actually fell in September, according to the Commerce Department's own data released yesterday. Actually, Trump is lying. again. But with midterms on Tuesday, the golden age should arrive by the end of the week.