Trump said the June CPI data marked the biggest monthly drop in six years, lifted real wages by 0.8%, and coincided with TSMC raising its Arizona investment plan by $100 billion.
US consumer inflation for June came in at 3.5% year over year, below the 3.8% forecast and under the expectations of all 67 economists surveyed by Bloomberg. President Trump said the data marked the biggest monthly drop in the Consumer Price Index in six years, with declines in gasoline, electricity, auto insurance, hotels and prescription drugs. He said strong wage growth alongside easing prices lifted real wages by 0.8%, and added that TSMC would increase its Arizona semiconductor plant investment by $100 billion, bringing its total US commitment to $265 billion. Fed officials had previously indicated that a softer inflation reading would not change their tightening path.