Vegetables are on display at a grocery store on August 15 in Delray Beach, Florida. Wholesale prices for fresh vegetables soared by 38.9 % last month, according to the Bureau of Labor Statistics. Joe Raedle/Getty Images

President Donald Trump this week declared on Truth Social that there’s “No Inflation!!!” But Consumer Price Index data released Thursday tells a different story.

Not only does the data show rising inflation, but the pace of consumer price increases is accelerating.

Consumer prices rose 0.4% in August from the month before, pushing the annual inflation rate to 2.9%, the highest since January, according to Bureau of Labor Statistics data released Thursday. The acceleration comes as Trump has levied higher tariffs on practically everything the United States imports whil

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