Fox Business host Taylor Riggs on Wednesday expressed alarm over the latest inflation data.
“I’m really, really not happy about this inflation report,” Riggs said on “The Big Money Show” after the Bureau of Labor Statistics’ producer price index showed inflation rose 0.7% in February — well above the anticipated 0.3%.
Riggs acknowledged it is only one data point and “we try to look at two or three-month trends but this does not look good to me and I don’t like sitting here after everything we’re talking about and saying, ‘Oh well, OK, but it’s just one month,’ because unfortunately March is guaranteed, 95% chance, to get worse than what we saw.”
Riggs noted that the cost of food, alcohol, fuel and more is all rising — undercutting President Donald Trump’s campaign promise to bring prices down. Rising oil prices, meanwhile, which contribute to higher prices across the board, have surged since Trump launched his war on Iran.
“I just don’t like it,” Riggs said of the inflation news. “Fresh and dried vegetables were up 49%. So, there’s something going on. Maybe it is a one-off that we could debate, but I don’t like the trend, and I don’t like that we’re going to sit here and think March isn’t going to get worse.”
Watch from the 4-minute mark here: