Trump: "Inflation is going down a lot. "The numbers: Not so Donald Trump is celebrating what he calls America's new economic golden age. In a Social Truth post, he boasted about declining inflation and buoyant incomes for businesses and ordinary Americans. But the latest economic data paints a very different picture. Instead of easing, inflation accelerated. Consumer prices climbed 3.7% over the past year in September, compared to 3.4% in August and only 2.4% in January, before Trump's war with Iran. Energy costs added to the pressure, with gasoline prices jumping 9.1% in September alone. Inflation has remained above the Federal Reserve's target for more than five years. In September, the central bank responded by raising interest rates for the first time in over three years. American workers are not experiencing the prosperity that Trump describes either. Average hourly earnings, adjusted for inflation, decreased by 0.7% over the past 12 months. Meanwhile, government figures released yesterday show that inflation-adjusted disposable income fell again in September. The contrast could not be clearer: Trump is selling an economic boom while rising prices continue to erode Americans' purchasing power. With Tuesday's midterm elections looming, the White House seems determined to declare victory over inflation, regardless of what economic indicators show. For Trump, the golden age is here. For millions of Americans struggling with everyday expenses, it's not in sight.

Trump: "Inflation is going down a lot. "The numbers: Not so Donald Trump is celebrating what he calls America's new economic golden age. In a Social Truth post, he boasted about declining inflation and buoyant incomes for businesses and ordinary Americans. But the latest economic data paints a very different picture. Instead of easing, inflation accelerated. Consumer prices climbed 3.7% over the past year in September, compared to 3.4% in August and only 2.4% in January, before Trump's war with Iran. Energy costs added to the pressure, with gasoline prices jumping 9.1% in September alone. Inflation has remained above the Federal Reserve's target for more than five years. In September, the central bank responded by raising interest rates for the first time in over three years. American workers are not experiencing the prosperity that Trump describes either. Average hourly earnings, adjusted for inflation, decreased by 0.7% over the past 12 months. Meanwhile, government figures released yesterday show that inflation-adjusted disposable income fell again in September. The contrast could not be clearer: Trump is selling an economic boom while rising prices continue to erode Americans' purchasing power. With Tuesday's midterm elections looming, the White House seems determined to declare victory over inflation, regardless of what economic indicators show. For Trump, the golden age is here. For millions of Americans struggling with everyday expenses, it's not in sight.