The annual inflation rate eased to 2.3 percent in April, the lowest since February 2021, showing that Joe Biden’s attempted destruction of the U.S. economy can be reversed. This represents a 0.1 percent decline in the annual rate from March and 0.1 percent below forecasts. The month-to-month rate increased by 0.2 percent over March, but was lower than the forecast 0.3 percent.

JUST IN: US inflation fell to 2.3% in April, the lowest since 2021. pic.twitter.com/kFxQnxFo7P

— Brew Markets (@brewmarkets) May 13, 2025

Inside that number, there was more good news. Gasoline prices decreased for the third straight month. At home food fell by 0.4 percent, or twice the rate of inflation. Eggs were down 17.7 percent since March, while pork and beef ran at or slightly behind inflation. Overall, grocery prices had their largest decline in nearly five years. (Funny how so many economic failures begin with Joe Biden’s inauguration, isn’t it?)

JUST IN: April’s inflation report came in below expectations for the third straight month.

Grocery prices saw their largest decline in nearly five years.

Gas prices fell for the third month in a row. pic.twitter.com/AgsyV6efkF

— Rapid Response 47 (@RapidResponse47) May 13, 2025

Used cars declined in price while the prices of new models remained constant.

Last week, the New York Times humorously foreshadowed this report, if you aren’t a TDS-infected drone, in an article headlined, .

Evidence for the economic impact of President Trump’s trade wars is everywhere — except, for the most part, in economic data itself. Consumer spending hasn’t fallen. Layoffs haven’t risen. Businesses haven’t stopped investing in equipment or buying supplies.

As we’ve reported, not only is inflation down, but the number of jobs created is up (.) In fact, banking and investment powerhouse JP Morgan has just withdrawn its prediction of recession.

BREAKING: JPMorgan has just dropped its prediction of a U.S. recession in 2025 – Bloomberg pic.twitter.com/ZUQSfBKj94

— Eric Daugherty (@EricLDaugh) May 13, 2025

This is not to say the mainstream media have given up on forecasting a recession; they haven’t (see ). But I think we are in uncharted economic waters. No one has any idea how tariffs will play out in the modern world. This is not 1930, and references to the Smoot-Hawley Tariff and the Great Depression are rather tired and indicate a preference for anti-Trump sloganeering over observation and analysis.

Should this good news continue, Trump will enter next year in a strong position to expand GOP caucuses in the Senate and House.

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