Inflation Sees Biggest Drop Since 2020, But Have Prices Really Gone Down?

Ryan and Dana discuss inflation posting its biggest decline since 2020 and play audio of President Donald Trump saying prices are lower than ever. They also react to listener Talkbacks from people who say their everyday costs tell a different story.

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Episode Transcript

Speaker 1 (00:00):
The Ryan Gorman Show podcast presented by Farah and Farah
Accident attorneys from Tampa.

Speaker 2 (00:07):
All right, now, let's get to another top story recovering
this morning. Consumer prices fell zero point four percent in June.
That's the largest one month decrease since April of twenty twenty,
and the big reason lower energy prices in June. Now,
annual inflation slowed to three and a half percent in June.
That's from four point two percent in May. But just

(00:28):
keep in mind that's still well above the Fed's two
percent target. Now, the problem is that energy prices are
on the way back up, so probably not going to
see a trend where inflation continues to drop. Patrick Dehana,
head of petroleum analysis for Gas Buddy, who we're going
to have on Friday morning, wrote on Acts that the

(00:50):
concern now and I mentioned this yesterday on the show,
is the renewed naval blockade on Iran and basically the
reclosure of the Strait along with fuel shortages in Russia.
So Russia's been getting pounded by Ukraine. It's impacting their
oil supply. So that double whammy could cause some big problems,

(01:10):
especially when you've got oil inventories already really low this morning.
Gas prices up twelve cents a gallon from yesterday, eighteen
cents a gallon from a week ago, at their highest
level in a month. And it looks like we're headed
for four dollars per gallon again real soon. It's about
three ninety as the average here in Florida right now.

(01:32):
I don't know if you've noticed theo oh.

Speaker 3 (01:34):
Three ninety nine this morning. I'm like, wait, what just happened?
And then you know, I realized everything's all heated up
again over there, So that's why. But yeah, three ninety nine,
so it'll be back. I bet it'll be back over
four dollars very soon.

Speaker 2 (01:46):
Yep. Now, President Trump, he had a different take on
prices yesterday during an oval office Q and A. Here's
what he had to say. Prices are coming way down,
and we're doing.

Speaker 4 (01:56):
A great job. And remember that, remember that for the
mid terms.

Speaker 1 (02:01):
I say to that camera, remember.

Speaker 4 (02:03):
That, because nobody else could do it.

Speaker 1 (02:05):
Prices are down, Prices are coming way down, and we're
going to bring them much lower.

Speaker 3 (02:10):
Yet, water prices way down on I don't know, is
this what he's going to talk about tomorrow night? He's
going to try to convince us all that the prices
of everything are way down.

Speaker 2 (02:21):
Yeah, I'm sure it's going to be part of it. Look,
I'll open it up. I definitely want to hear what
all of you have to say about that. Generally speaking,
So you know, there might be some things like eggs down,
you know, but then you got beef that's been way up.
Gas prices they were coming down, but now they're going

(02:42):
back up, and they're still way higher than they were
at the beginning of the year. The prices you're seeing
for stuff right now higher or lower than they were
at the beginning of the year. And you can weigh
in by pulling up your iHeartRadio app WIOD if you're
in South Florida, FLA. If you're in the Tampa Bay area,
you'll see that microphone. It's red microphone. You hit that,

(03:04):
you can record thirty second voice comment comes right to us.
I want to get some of these later. Generally speaking,
the prices you're seeing for stuff you buy higher or
lower right now than they were at the beginning of
the year.

Speaker 5 (03:17):
My nail salon just raised prices.

Speaker 3 (03:19):
When I went on Saturday, there was a note that
said please know that we have changed some of our prices.

Speaker 5 (03:23):
And it was ten dollars more to get my manifest Yes, yes,
ten dollars, I think more.

Speaker 3 (03:28):
I think it was five bucks for like the petticure.

Speaker 5 (03:30):
In five bucks for the manicure. It went up. Yeah,
but my nails are great, don't they.

Speaker 2 (03:33):
Yeah, they do look good and look. Prices being higher
doesn't mean people are, you know, slowing down with their spending.

Speaker 6 (03:39):
No.

Speaker 5 (03:40):
I had to pay it. I had to get my
nails done.

Speaker 2 (03:42):
Yeah, right, exactly my card. President Trump says prices are
way way down. But what do you think based on
what you've been experiencing as you're purchasing different things. This
is what Mark listening to us in the Tampa Bay
area had to say, Are.

Speaker 6 (03:58):
You kidding me?

Speaker 1 (04:00):
Rices are way up, way way way up.

Speaker 2 (04:03):
Struggling to keep my head above water here. This is
what a listener in South Florida said, Hey.

Speaker 6 (04:08):
Guys, I don't know what the President is talking about,
but prices are going up across the board. I'm just
about everything, and I didn't I see that more than
ever in groceries, and I got myself looking for groceries
at Walmart, Target, Aldie, anything I can do to save
money because it's bad out there.

Speaker 2 (04:24):
And this is what our friend George Carl, listening to
us in the Tampa Bay area, had to center.

Speaker 4 (04:27):
The President's right that the costs have gone down for
many of us. Since I went on my hunger strike
and haven't bought food for six months, I'm saving a
lot of money food, Thank you for that. And I've
given up driving, so gasoline prices don't affect me anymore.
I'm saving money there and sitting in the dock at
home and disclecting every electrical appliance has really lowered my

(04:51):
energy ghost at Homie.

Speaker 3 (04:52):
Thanks the price is way down, that's right, Yeah, a
ton of money.

Speaker 1 (04:58):
Make The Bland gor Chow podcast up were set on iHeartRadio,
presented by Farah and Farah Accident Attorneys, Tampa, MHM