Biden Cites ‘Progress’ on Inflation Despite 7% Climb in 2021
- President points to slower gains in energy, food prices
- Biden says ‘increases still too high,’ more work to be done
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President Joe Biden said his administration is “making progress” in battling cost-of-living increases, pointing to slower gains last month in energy and food prices, even as headline consumer inflation hit the highest in almost four decades.
Wednesday’s report from the Labor Department on the consumer price index “shows a meaningful reduction in headline inflation over last month, with gas prices and food prices falling,” Biden said in a statement on Wednesday.