Economy & Inflation

CBS News fact-checks President Trump’s Tuesday claim in Mount Pocono, Pa., that “prices are coming down,” citing federal data showing September inflation at 3% year over year (up from a 2.3% low in April) and Fed Chair Jerome Powell’s Wednesday remarks that tariffs have recently lifted goods inflation. The piece notes analysts estimate CPI near 3.3% for November, groceries up 2.7% YoY in September, and includes the White House’s assertion that inflation is cooling to a 2.5% annualized pace and should fade in 2026.