Fact vs. Spin: Is 3.7% Inflation Really Just an "Energy Shock"? Here Is What BLS and BEA Say

On NBC's "Meet the Press" on Oct. 18, Treasury Secretary Scott Bessent said September's 3.7 percent inflation is "an energy shock," that core inflation and rents are down, and that food is below the Fed's targets. The big picture checks out: energy explains this year's jump. But core fell three months in a row, not four, only grocery prices are under the Fed's 2 percent, and the government's rent index is still rising.

By Clara Hughes