CNN —
Predictions from mainstream economists were dire after President Donald Trump launched his tariff campaign just a couple weeks after he began his second term in office: Prices would rise — sharply — they said, reigniting an inflation crisis that tens of millions of Americans had elected him to solve.
But that massive, tariff-induced inflation spike hasn’t materialized. Not even close.
Not yet, anyway.
Consumer prices rose just 2.4%, annually, last month, according to the Bureau of Labor Statistics. That was less than economists had expected, and only slightly higher
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