White House Claims It Is ‘Making Progress’ On Inflation As Consumer Prices Rise

White House Claims It Is ‘Making Progress’ On Inflation As Consumer Prices Rise


The Biden administration claimed Wednesday that it is “making progress” on inflation, even as official data showed consumer prices in December increased by 7% over the previous year, the fastest rise in approximately four decades.

“Today’s report—which shows a meaningful reduction in headline inflation over last month, with gas prices and food prices falling—demonstrates that we are making progress in slowing the rate of price increases,” President Joe Biden said in a statement released on Wednesday. “At the same time, this report underscores that we still have more work to do, with price increases still too high and squeezing family budgets.”

“Inflation is a global challenge, appearing in virtually every developed nation as it emerges from the pandemic economic slump,” Biden added. “America is fortunate that we

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