After the US June CPI print, White House deputy press secretary Kush Desai
posted that President Trump’s claim—that resumption of shipping through the
Strait of Hormuz would trigger a sharp fall in oil and headline inflation—has
been validated. Desai said June CPI came in well below expectations and marked
the largest decline since April 2020, led by lower energy prices. He added the
administration’s agenda was cutting prescription drug, healthcare, auto and
insurance costs and raising real wages for ordinary Americans.
