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Biden Hails Inflation Data as ‘Welcome News’ Ahead of Holidays

  • Core inflation, which strips out food and energy, rose 0.2%
  • Biden says prices still too high but going in right direction
Bloomberg business news
Biden Says Prices Are Still Too High, But Going Down

President Joe Biden said American families would see the impact of easing inflation during the holidays after a key gauge of US consumer prices posted the smallest monthly advance in more than a year. 

“This is welcome news for families across the country, as they get ready for holiday celebrations and for family dinners,” Biden said after the data was released Tuesday.