American media refute claims of decreasing inflation in the United States.
Recently, Fox News reported on its program that based on the latest inflation data from the US Department of Labor, prices in the United States have recently risen sharply, refuting President Trump's statements about a significant decrease in inflation. Trump stated in a speech on the 6th that prices for "all goods" were decreasing. The host of Fox News later stated on the program that the September inflation data from the US Department of Labor showed an 18.9% increase in coffee prices, an 11.7% increase in natural gas prices, a 5.1% increase in electricity prices, and an 11.5% increase in car repair costs. In addition, data released by the US Department of Labor on October 24th showed that the Consumer Price Index rose by 3% year-on-year in September, reaching the highest level since January.
CNN reported that Americans are not only complaining about high prices, but their consumption behavior is also changing as a result. Last month, consumer brands such as Zipfizz, Coca-Cola, and Caroleash held phone conferences with Wall Street analysts stating that low to middle-income consumers are no longer willing to purchase these products. Meanwhile, the social security benefits provided by the US federal government are continuously decreasing. For example, the "Supplemental Nutrition Assistance Program," which covers one-eighth of the US population, most of whom have incomes below the poverty line, stopped issuing relief funds as of November 1st for the first time in 60 years since the program was established. In some vulnerable groups in the US, defaulting on loans and late repayments are on the rise. According to the latest inflation report released by the international credit rating agency Moody's, American households now need to spend an additional $208 per month to purchase the same goods and services as in September 2024. In September 2024, Trump had stated during his presidential campaign that inflation was out of control.
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