CNN reported that U.S. inflation fell to 2.7 percent, a drop the White House hailed as good news ahead of the holidays. Many users on social media expressed skepticism, saying the lower inflation rate has not reduced high prices for groceries and gas.

President Donald Trump, in what was billed as a speech to the nation, tonight mounted a sustained argument for his administration’s economic success, arguing that he’d made significant progress in easing prices despite widespread voter frustration with the cost of living.