Economics
Biden Says There’s More Work to Do on Inflation as Data Stay Stubbornly High
- Biden hails seven months of decline in yearly inflation gauge
- Monthly rate of inflation accelerated from previous month
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President Joe Biden said there’s more work to do to tame US inflation, after the latest data showed monthly price growth accelerating in line with economists’ forecasts.
Monthly inflation rose 0.5% in January, while so-called core monthly inflation rose 0.4%, each matching estimates from economists. Both readings were the highest since the fall.