President Trump has been clamoring for the Federal Reserve to lower interest rates on the grounds that inflation is much lower than what’s being officially reported. It turns out Trump is spot on, with today’s real inflation rate being only one-third of the official metrics.

These numbers come from the real-time price aggregator Truflation, which monitors millions of prices daily. That is orders of magnitude higher than the Bureau of Labor Statistics (BLS), which observes only a few thousand prices three times per month.

According to Truflation, prices have risen an average of just 0.9 percent over the last 12 months. That’s about as good as it gets outside of a recession, especially when the Fed is engaged in money printing, euphemistically called “quantitative easing.”

Truflation’s annual inflation rate is now much lower than the official inflation rate of 2.7 percent reported by the consumer price index (CPI).

It is worth noting that Truflation typically correlates at 97 percent with the official CPI, meaning the indexes track closely with one another. Truflation is not some cockamamie guessing game but a highly accurate and scientific project to create up-to-the-minute information on inflation.

And Truflation is not usually so far below the CPI. In fact, Truflation was higher than official numbers under Biden, peaking at around........

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