The White House said U.S. consumer prices are continuing to cool, pointing to the July Consumer Price Index that rose 2.7% from a year earlier but has averaged a 1.9% annualised pace during President Donald Trump’s first six months in office. Energy costs fell in July, with gasoline down 2.2% on the month and nearly 10% from a year ago, while egg prices have dropped 20% since January, according to figures highlighted by administration officials. Press Secretary Karoline Leavitt told reporters that wages are now rising faster than prices, citing a 1.3% increase in real earnings over the past year and month-to-month gains since January. She said the data demonstrate that the administration’s “America First” agenda is “putting more money back into the American people’s pockets.” Republican lawmakers echoed the message, emphasising lower fuel and grocery costs and describing the latest numbers as proof that the administration’s tax, energy and trade policies are working. Leavitt dismissed critics—dubbed “panicans” by the White House—and urged the public to “trust in President Trump,” underscoring the political stakes attached to the trajectory of inflation.