The 3.4% headline inflation number obscures what is happening underneath the surface. Despite the oil shock from the conflict in Iran, energy prices fell 1.5% in July and gasoline fell 2.9%, bringing three-month annualized headline CPI to just 0.5%. READ MORE HERE👇

Peter Navarro argues that the reported 3.4% headline inflation number is misleading and hides underlying issues. He highlights that despite an oil shock from the Iran conflict, energy and gasoline prices actually decreased in July.