The tariffs imposed by the Trump administration on steel, aluminum, and imports from China have not taxed American consumers.
The Labor Department said Wednesday that its Consumer Price Index was flat last monthand consumer prices are up just 2.2 percent compared with a year ago. That’s a deceleration of price pressure from October when prices were up 2.5 percent compared with the prior year.
Excluding volatile food and energy doesn’t change the picture very because core inflation was also very low. Core CPI climbed just 0.2 percent for the month and is up 2.2 percent from a year ago. That is in-line with October’s 2.1 percent and September’s 2.2 percent 12-month increases. MORE