'Trust in President Trump': Leavitt says economy 'incredible' despite numerous price hikes

17 July

White House Press Secretary Karoline Leavitt holds a press briefing at the White House in Washington, D.C., U.S., July 17, 2025. REUTERS/Nathan Howard

White House Press Secretary Karoline Leavitt is crediting President Donald Trump with what she described as an “incredible economic turnaround in just six months.” However, inflation continues to rise under his administration, and the data she cited highlighted only a selective set of favorable economic indicators.

Americans “saw prices for new and used vehicles and airfares dropped last month,” Leavitt enthusiastically declared on Thursday during a press briefing.

“In addition, prices for gas, fuel oil, energy commodities, hotels, airfare, public transportation, and fresh vegetables are all down over last year,” she claimed.

“As we said all along, trust in President Trump. The American dream is back and everyday families are already reaping the benefits of this incredible economic turnaround in just six months.”

Her statements highlighted positive data while leaving out ongoing inflation concerns.

Prices for new and used vehicles did drop last month, but both are up over the past 12 months: 0.2% for new vehicles and a hefty 2.8% for used cars and trucks, according to the federal Bureau of Labor Statistics, which tracks all these items and publishes the monthly inflation rate.

Overall, inflation last month rose to an annual rate of 2.7%, the highest level in months.

The cost of food is up 3% over last year. Electricity is up 5.8% over last year, and utility (piped) gas service is up a massive 14.2% over last year.

Shelter is up 3.8%, and medical and transportation services are both up 3.4% over last year.

Economists cite the President’s tariffs, now beginning to take effect, along with rising costs for food, energy, and rent as the reasons for the increase in inflation.

The White House appears to be attempting to head off public concern.

“Worsening inflation poses a political challenge for President Donald Trump, who promised during last year’s presidential campaign to immediately lower costs,” the Associated Press reported Tuesday.

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