A Harvard economics professor told “CNN News Central” co-host Kate Bolduan Thursday that the latest Consumer Price Index (CPI) numbers were “positive news” for the economy.
The CPI rose 2.7% year-to-year in November, down from a 3.0% year-to-year increase in September, according to the Bureau of Labor Statistics. Kenneth Rogoff, the Maurits C. Boas Professor at the Ivy League school, said that inflation had been “very high.” (RELATED: ‘Did It Grow On Trees?’: Scott Jennings Stunned By CNN Panelist’s Defense Of Biden On Inflation)
“I was surprised. It was a better number than anyone was expecting,” Rogoff told Bolduan. “Look, inflation’s been very high, it’s stayed high and it’s not been coming down.”
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“You know, people have been expecting it to be above 3%, it was well below 3%,” Rogoff continued. “I mean, I think the president will take this as good news. The investors will think that interest rates will get cut more, so it was positive news — there’s no other way to spin it.”
In the early months of President Donald Trump’s second term, Democrats criticized him over high prices, especially the price of eggs, which doubled in price from November 2023 to March 2025, according to the St. Louis Federal Reserve Bank, a price hike fueled by the culling of tens of millions of chickens in response to a bird flu outbreak.
Trump touted his economic policies in a Wednesday night speech, while a fact sheet released by the White House noted lower prices for fresh fruit, butter, ice cream, shampoo and toilet paper. The White House also highlighted declining gas prices.
Inflation hit high levels during the Biden administration, with the CPI peaking at a four-decade high of 9% in June 2022.
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