It’s all propaganda. Inflation is “cooling” relative to how “hot” it was a few months back. Spending is up 0.8% but that includes the cost increases of inflation (nominal spending, or dollar denominated spending) but real spending (dollar value adjusted for inflation (e.g. how much you get for that 0.8% increase)) is down.
5% inflation is better than 8.5% recent inflation rate.
Why is 5% bad news? If it was 12% now that would be bad news.
FED can now taper interest rate INCREASES. Instead of 75 basis points every time, FED can go down to 50 or 25 basid points.
Don’t get me wrong, any inflation over 2% is bad for all except the very rich.