President Donald Trump touted the country's economic strength this week, citing stock market gains, low gas prices, and declining grocery bills, but the data tell a more mixed story. According to Barron's, gas prices have increased by 8 cents per gallon since Inauguration Day, and grocery prices have also risen. The Commerce Department reported annual inflation at 2.3%, with price hikes accelerating in April. TSA data shows air travel has dropped 2% month-over-month, consumer sentiment is nearing historic lows, and year-ahead inflation expectations hit 7.3%, the highest since 1981. Existing home sales fell to their lowest level since 2009 last month, dampening hopes for a housing-driven boost in consumer spending. Trump scored a legislative win with the House passing his tax-and-spending bill, but convincing Americans the economy is strong remains a challenge.
