‘Really Good News for All of Us! Steve Doocy Celebrates Just Released Consumer Price Index

A rare thing happened on Fox News Wednesday morning: an on-air personality celebrated good economic news upon the release of new Consumer Price Index data.

July’s Consumer Price Index showed inflation up just 0.2% from June. Introducing a segment on the news, Steve Doocy noted that this “is about what economists had predicted. And year over year, prices are up 2.9%, which is slightly less than expected.”

“This is the lowest since March of 2021, just a month or two after Joe Biden took office,” Doocy added before bringing on guest Taylor Riggs, host of Fox Business’ Big Money Show . “Well, this is really good news for all of us,” Doocy exclaimed, “because we want to pay less.”

Riggs replied:

Yes. So I think the good thing to think about this is prices are rising. They’re just rising at a slower rate than when they were a few years ago, but unfortunately means that your prices are still going up. I think the headline numbers that you pointed out are spot on, but if you strip out the volatile food and energy components, core inflation, what we feel every day is still up about 3.2% year over year. The Fed’s target is 2%. So we are getting closer to the goal. But prices aren’t falling. They’re just rising less quickly than they were. So underneath the surface rent auto insurance, there are some things today that are still rising at a pretty significant pace. But overall, I think you’re right. We can take a little bit of a sigh of relief here with this report.

Economic policy, and in particular high inflation rates since the start of the pandemic, have become an enormous issue in the 2024 presidential election. Fox’s conservative opinion shows, like Fox & Friends, have consistently ridiculed “ Bidenomics ” as the price of groceries climbs under the Biden administration.

Watch above via Fox News.