President Donald Trump and senior White House officials are highlighting new inflation data showing prices rose 2.7 percent in November, coming in below expectations. Administration officials argue the figures signal easing inflationary pressures and set the stage for stronger economic growth in 2026. Paul Ashworth, chief North America economist at Oxford Economics, said the modest increase—especially in housing costs—was surprising. He noted that while the data may indicate a real slowdown in inflation, such an abrupt deceleration in typically persistent areas like rent is unusual outside of a recession.
Treasury Secretary Scott Bessent echoed the administration’s optimism in a Fox News interview, saying 2026 could be “a great year for growth, inflation, and the American people.” He argued that while inflation has cooled, Americans remain frustrated by high overall prices that surged during the Biden administration. Bessent pointed to a roughly 21–22 percent rise in the consumer price index over that period, adding that costs most affecting working families—such as groceries, rent, and insurance—rose closer to 35 percent.
White House National Economic Council Director Kevin Hassett made similar remarks on CBS’s “Face the Nation,” emphasizing recent inflation trends over weaker job growth numbers. Hassett highlighted the three-month moving average of core prices, which he said is running well below the Federal Reserve’s 2 percent target. He argued this trajectory gives the Fed ample room to cut interest rates, potentially boosting economic momentum going forward.