Pro-trump Cnbc Host Parties Over Biggest Inflation Drop Since Covid

CNBC anchor Rick Santelli was in a chipper mood on Tuesday morning when he reported the biggest month-over-month drop in inflation in more than six years.

Santelli read the figures from the latest Consumer Price Index report, which showed CPI declined 0.4% in June, to viewers right after they came in.

“Expecting a headline negative number to be negative — negative one-tenth of a percent. This is four times more negative,” Santelli raved. “Minus four-tenths of a percent, that would be the biggest negative drop we’ve seen since 4/20 — since basically COVID timing.”

He kept gushing for another moment, reporting, “If we look at the CPI month-over-month on the core, also under expectations. Comes in at goose egg! Zero. Zero would be the smallest amount, it would equal [January] of 2021.”

Santelli flashed a quick “zero” symbol with his right hand to drive home the news.

Fox Business explained further:

The Bureau of Labor Statistics (BLS) said on Tuesday that the consumer price index (CPI) – a broad measure of how much everyday goods like gasoline, groceries and rent cost – declined 0.4% on a monthly basis in June and was up 3.5% from a year ago. The monthly decline was the largest since a 0.8% decrease in April 2020.

Those figures were cooler than the estimates of economists polled by LSEG, who predicted a decline of 0.1% on a monthly basis and a 3.8% increase from a year ago. They also represent a cooling trend from the 0.5% monthly increase and the 4.2% annual rise recorded in the May edition of the report.

So-called core prices, which exclude volatile measurements of gasoline and groceries to better assess price growth trends, were unchanged from a month ago and up 2.6% from last year. Both of those figures were lower than the estimates of economists polled by LSEG, who predicted a monthly increase of 0.2% and 2.8% from a year ago.

President Donald Trump’s White House appeared to enjoy Santelli’s report, with the Rapid Response 47 account sharing a clip of it on X.

Investors seemed to enjoy the inflation report too, with the Dow, S&P 500, and Nasdaq all increasing between 0.25% and 0.80% in the first hour of trading on Tuesday.

Watch above via CNBC.

The post Pro-Trump CNBC Host Parties Over Biggest Inflation Drop Since COVID first appeared on Mediaite.