New Delhi: President Joe Biden Said that despite experiencing most high inflation In nearly 40 years in November, US price growth has been slowing, particularly for gasoline and cars.
After a Labor Department report showed a 6.8% annual profit, Biden said: “Today’s numbers reflect the pressures that economies around the world are facing as we emerge from a global pandemic – prices are rising.” ” consumer price Index in November. “But developments in the weeks since these data were collected last month suggest that price and cost growth is slowing, though not as quickly as we would like,” he said.
inflation The gauge rose 0.8% from October, slightly higher than forecasts, but the annual CPI figure – the country’s steepest inflation experience since 1982 – was in line with expectations. Biden said that “half of the price increases in this report have been in cars and energy costs since November” and that since then, prices have begun to fall in both regions.
“Even with this progress, price increases continue to squeeze the family budget,” he said. “We’re making progress pandemic challenges For our supply chain that makes it more expensive to get stuff on the shelves, and I expect further progress on that in the coming weeks. He called on Congress to pass his “Build Back Better” legislation, a package of spending on climate and social priorities with tax increases.
After a Labor Department report showed a 6.8% annual profit, Biden said: “Today’s numbers reflect the pressures that economies around the world are facing as we emerge from a global pandemic – prices are rising.” ” consumer price Index in November. “But developments in the weeks since these data were collected last month suggest that price and cost growth is slowing, though not as quickly as we would like,” he said.
inflation The gauge rose 0.8% from October, slightly higher than forecasts, but the annual CPI figure – the country’s steepest inflation experience since 1982 – was in line with expectations. Biden said that “half of the price increases in this report have been in cars and energy costs since November” and that since then, prices have begun to fall in both regions.
“Even with this progress, price increases continue to squeeze the family budget,” he said. “We’re making progress pandemic challenges For our supply chain that makes it more expensive to get stuff on the shelves, and I expect further progress on that in the coming weeks. He called on Congress to pass his “Build Back Better” legislation, a package of spending on climate and social priorities with tax increases.
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