Ed Elson

There is a downward bias in the data

which means that prices rose more than that.

And this is where third-party data is really helpful.

And thankfully, we have it right here in front of us, courtesy of Mark.

The true number is 3% year over year.

In other words, before Liberation Day, before the tariffs, we had 2.3% inflation.

After Liberation Day, after the tariffs, we now have 3% inflation.

There is no question that,

what tariffs have done to prices in America.

Prices have gone up, and they have gone up a lot.

The president will try to say the opposite has happened.

In fact, that's the claim he made yesterday morning.

But you can either investigate these numbers in detail, as we have just done, as Mark has done, or you can simply go to the grocery store.

Either way, you will conclude inflation is only getting worse.

Okay, that's it for today.

This episode was produced by Claire Miller and Alison Weiss, edited by Joel Patterson, and engineered by Benjamin Spencer.

Our research team is Dan Shallan, Isabella Kinsel, Kristen O'Donoghue, and Mia Silverio.

Thank you for listening to Profiteer Markets from Profiteer Media.

If you liked what you heard, give us a follow.

I'm Ed Elson.