New Inflation Numbers Are Out – Here’s What The White House Is Saying

The Consumer Price Index for July indicated that prices overall went up 0.1 percent since June, and 3.4 year-over-year, according to new numbers released on Wednesday indicating that inflation has been less intense compared to the past two months.

The development comes as there was a decrease overall of 0.4 percent in June, making July the second smallest change month-over-month so far in 2026. 

The cost of food went up by 0.1 percent in July, and 3 percent since last July. 

Energy prices also continue to be in focus, especially with the ongoing conflict in Iran. However, the latest data shows that it went down another 1.5 percent overall in July, after a 5.7 percent decrease in June, although it is still up 14.7 percent year-over-year.

Heather Long, Chief Economist at Navy Federal Credit Union, posted to X that the “Inflation eased a bit in July.”

“CPI inflation cooled slightly in July to 3.4% (down from 3.5% in June and 4.2% in May). But beware: Rising gas prices due to the war in Iran remain a key risk,” Long wrote. “The monthly gain was +0.1%. Energy costs, restaurant costs and medical commodities were all down slightly according to the gov’t calculations. Shelter/rent prices also continue to moderate.”

JUST IN: Inflation eased a bit in July. CPI inflation cooled slightly in July to 3.4% (down from 3.5% in June and 4.2% in May). But beware: Rising gas prices due to the war in Iran remain a key risk.

The monthly gain was +0.1%. Energy costs, restaurant costs and medical… pic.twitter.com/h1LzdlgoG4

— Heather Long (@byHeatherLong) August 12, 2026

“Core CPI inflation (excluding gas and energy) came in at 2.5% (down slightly from 2.6% in June and 2.9% in May),” Long continued.

Gasoline prices ticked down 2.9 percent in July, after a nearly 10 percent slash last month. Although fuel oil prices have gone up by 39 percent since last July; it went down another 2.9 percent in July after a 9.7 percent cut in June – bringing significant recovery since the 21.2 percent increase in March.

“The July CPI report is further proof that President Trump’s long-term agenda is delivering: prescription drug and auto insurance costs continue to fall, real wages are rising, and beef prices have cooled while other household essentials like eggs, poultry, and dairy remain low,” White House spokesman Kush Desai said in a statement on Wednesday.

“Despite temporary disruptions stemming from Iran, core CPI is near the Fed’s two-percent target rate. As the Trump administration’s economic policies continue taking effect, Americans can count on more job, wage, and economic growth,” Desai continued. 

Shelter stayed fairly steady, only increasing by 0.1 percent in July and 3.2 percent since last year, as transportation and medical care services also hovered just under a 3 percent increase since July. 

“The meats, poultry, fish, and eggs index decreased 0.7 percent over the month as the pork index declined 1.5 percent. The index for fruits and vegetables decreased 0.1 percent in July,” the report noted, adding that “dairy and related products” ticked down by 0.1 percent.

The latest data also noted a 16.4 percent drop in the price of lettuce, as concern over the Cyclospora outbreak swept the nation. 

The numbers come as the nation continues to recover from sky-high post-pandemic inflation under the Biden administration, which went as high as 9.1 percent year-over-year in June 2022. 

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