President Donald Trump's policies are doing more damage to the economy than his administration is letting on, a CNN panel argued on Thursday.

According to the latest inflation data, producer prices increased by 3.3% over the last year. That means businesses are paying more for the materials they use to make products for consumers. Hiring has also slowed considerably, the figures from the Bureau of Labor Statistics suggest.

Trump declared on Thursday that inflation was at a "perfect number."

Batya Ungar-Sargon, a columnist for The Free Press who describes herself as a MAGA lefty, argued on CNN's "NewsNight with Abby Phillip" on Thursday that Trump's economy is doing better than those numbers indicate. She cited prices for things like gasoline and groceries have both dropped since Trump took office.

Journalist Terry Moran responded by reminding the panel's conservative guests that they are missing a bigger point about Trump's statements about the economy.

"At one time, conservatives believed that character counts," Moran said. "Character counts when it comes to the economy, too. And, Donald Trump has not said 'the corporations will eat the tariffs.' No, he's said China will pay the tariffs. He lies every time!"

Moran's comments come at a time when Trump is seeking to install a loyalist as his next Bureau of Labor Statistics Commissioner. He fired the previous commissioner, Erika McEntarfer, after she released a jobs report that discredited Trump's claims about his economy.

Watch the entire clip below or by clicking here.