We're going to update the condition of what's been called the Trump Trade. I'm David Brancaccio in New York. There's news. The Consumer Price Index for October remains steady. Consumer inflation rose 2.6% year over year, up from 2.4% in the year through September. And the first rise in annual inflation in seven months,

when it was at its worst, inflation was about 9 percent. That was back in 2022. Let's check

in with Marketplaces Mitchell Hartman.

In October, average hourly earnings rose 4 percent from the year before, which means even after accounting for

inflation, Americans had over 1% more disposable income to spend.

And that is certainly helping to keep economic growth strong, says Ted Rossman at bank

rate.

Consumer spending.

You know, people are continuing to spend.

But they're not feeling great about

things. Partly because prices are still high and not really coming down. And even if consumers do

the math and figure out their paychecks have gone up more than their grocery bills lately,

Chris Jackson at polling firm Ipso says, I don't think most consumers are feeling that.

Jackson tracks consumer attitudes.

He says they aren't feeling it, partly because of how they think about economic cause and effect.

If their salary has gone up, it's because of some unique specialness that they have,

that has earned that money. And if

prices have stayed high, that's the market being unfair to them. And the wages to prices

equation still looks pretty bad if you go all the way back to the beginning of the recent

inflation spike, says bank rates Ted Rossman. Prices have grown a total of about 20% since the

beginning of 2021, and wages have gone up 17% on average during that span. Meaning even if wages

are outpacing price increases now, go back several years, consumers are still playing catch-up

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