MAGA world celebrated Wednesday's inflation report as proof that President Donald Trump's tariffs are good for the economy, while experts struck a more cautious tone.
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."
The latest Consumer Price Index data showed consumer prices rose 0.1% while the annual inflation rate increased to 2.4%, slightly lower than the 2.5% economists were expecting, CNN reported.
On social media, MAGA took a victory lap over the fractionally lower number.
Eric Daugherty with FLVoiceNews wrote, "Inflation SLOWS over the past month, a 'big surprise' to economists who thought Trump's tariffs would cause issues. LMAO."
Fox Business Network's David Asman wrote, "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!"
Outkick's Clay Travis posted, "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!"
The account of @geiger_capital wrote, "Excuse me… I was told by the news that tariffs would cause a massive inflation shock."
@rapidresponse47 cited a CNBC report saying, "There's no way to look at these numbers and say they are not welcome news." @rapidresponse47 continued, "President Trump promised to lower inflation and that's exactly what his policies are delivering."
"Tariffs don’t cause inflation, excess money printing does," wrote economist Brian Wesbury.
Derrick Evans, whose bio calls him a "Former Jan 6th Political Prisoner," wrote, "CNN forced to admit Trump is exceeding expectations."