David Joyce Professor of Economics and Business Todd Knoop was on CGTN America discussing December’s consumer inflation data on Jan. 13, 2026.
U.S. prices in December 2025 rose modestly—about 2.7% over the year—showing that everyday costs like food and shelter continued to inch up but generally stayed in line with what experts expected.
“In reality, I think everyone has a chance to use this information to support their pre-existing bias. If you think inflation is getting better. You can point to the fact that inflation is lower this year than last year, and it’s much lower than it was in 2023,” Knoop told CGTN. “But if you think that inflation is still too high, you can point to the fact that the 2.7% inflation announced today is higher than the U.S. experienced between 2000 and 2020. And it’s higher than the 2% target that the Fed has set for itself. You can also point to the fact that certain core good such as food and housing, continue to outpace overall inflation. Perspective is always important in how people interpret economic data, and that’s particularly true nowadays.”
He also discussed the state of consumer confidence and outlined potential impacts on inflation for 2026.
Knoop regularly shares his expertise with media outlets. He has taught at Cornell since 1998 and studies recessions and economic inequality. He recently published the second edition of his book, “Understanding Economic Inequality: Bigger Pies and Just Deserts.”
CGTN in Washington, D.C., is the American arm of the English-language China Global Television Network.