President Donald Trump on Wednesday celebrated the low August inflation numbers and urged Federal Reserve Chairman Jerome Powell to cut interest rates in light of that development.

"Just out: No Inflation!!! “Too Late” must lower the RATE, BIG, right now. Powell is a total disaster, who doesn’t have a clue!!!" he posted on Truth Social.

Inflation for August came in at 2.6% annually, while producer prices fell 0.1% from the previous month, CNN reported. The figure still remains above the Fed's 2.0% target rate and above where it stood when Trump's first term ended.

The development appears to be a win for Trump himself as it further provides him with data to refute the claim that his tariffs would drive price increases.

He has long urged Powell to lower interest rates, though he has thus far declined to fire him.

Ben Whedon is the Chief Political Correspondent at Just the News. Follow him on X.