US President Donald Trump today reiterated his long-held position that the Federal Reserve (Fed) should cut interest rates by a full point, calling the inflation data released today “wonderful.”

“The CPI was just released. Wonderful data! The Fed should cut interest rates by a full point. We will be paying much less interest on the outstanding debt. It’s that important!”
Trump wrote on the Truth Social platform, using all capital letters.

The Consumer Price Index (CPI) rose 0.1% in May, following a 0.2% increase in April. Every year, inflation stands at 2.4%, while analysts had estimated it would rise to 2.5%.

The US president says he is satisfied because he believes he has reined in inflation, although experts expected prices to soar because of the tariffs he imposed on imported goods.

Companies are “still selling the stocks” they had built up before the tariffs came into effect, commented Kathy Bostjanic, an economist at Nationwide, to Agence France-Presse. When those stocks are reduced, “we will see the impact of the tariffs on the prices” of products, she added.