Trump: Inflation data allows Fed rate cuts

(The Center Square) – Consumer prices climbed 2.7% annually in December, marking the end of a year of continued concerns about affordability for Americans. The Consumer Price Index for All Urban Consumers increased 0.3% on a seasonally adjusted basis in December, the U.S. Bureau of Labor Statistics reported Tuesday. Over the last year, the all items index increased 2.7%. Excluding food and energy, the index rose 2.6% over the last year. The energy index increased 2.3% for the year. The food index increased 3.1% over the last year. "Overall, a mild inflation report for December," said Heather Long, the chief economist for Navy Federal. "This is encouraging news for the economy." U.S. House Budget Chairman Jodey Arrington, R-Texas, said the report confirm's GOP policies are working. The White House said the report showed Trump had tamed inflation with tariffs and tax cuts. "Yet another report confirms that President Trump has defeated the inflation crisis inherited from the Biden Adminis