(Photo credit: Gage Skidmore)
Supporters of President Donald Trump were quick to celebrate Wednesday’s inflation report, calling it a win for Trump’s tariff policies even as economists urged caution in interpreting the data.
According to The Washington Post, “Inflation picked up in May but not as much as economists expected, suggesting that the effects of President Donald Trump’s tariffs have yet to take hold.”
New Consumer Price Index data showed that consumer prices rose by just 0.1% in May, with the annual inflation rate ticking up to 2.4%—slightly below the 2.5% forecast by economists, according to CNN. The modest increase was enough to fuel a flurry of pro-Trump reaction online, especially from voices in the MAGA sphere.
Eric Daugherty of FLVoiceNews posted, “Inflation SLOWS over the past month, a ‘big surprise’ to economists who thought Trump’s tariffs would cause issues. LMAO.”
Fox Business host David Asman added, “May inflation rate 1/2 of what was expected…turning a down pre-market all green. So far the Fed’s inflation boogeyman is nowhere to be seen. Talk about Powell being behind the curve…again!”
Commentators also linked the data to Trump’s latest China policy developments. Outkick’s Clay Travis wrote, “Trump says the China trade deal is done. Inflation numbers also just came in month to month lower than ‘experts’ expected. Past time to cut rates. Let’s roll!”
Others mocked earlier warnings that Trump’s trade policies could drive prices higher. “Excuse me… I was told by the news that tariffs would cause a massive inflation shock,” tweeted the account @geiger_capital. Meanwhile, @rapidresponse47 cited CNBC reporting, saying, “There’s no way to look at these numbers and say they are not welcome news.”
They added, “President Trump promised to lower inflation and that’s exactly what his policies are delivering.” Economist Brian Wesbury echoed that sentiment, writing, “Tariffs don’t cause inflation, excess money printing does.”
Even controversial right-wing activist Derrick Evans joined in, declaring, “CNN forced to admit Trump is exceeding expectations.”
While MAGA allies hailed the numbers as validation of Trump’s economic agenda, many financial analysts remain cautious, noting that tariffs often take time to impact prices and that long-term inflation trends require broader context. Nonetheless, the latest data offered Trump’s supporters a fresh talking point as economic policy takes center stage in the 2024 campaign.
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