White House reassures infrastructure holdouts about latest inflation numbers

White House reassures infrastructure holdouts about latest inflation numbers


White House officials are celebrating the latest Consumer Price Index report in a bid to pressure hesitant lawmakers who are concerned about inflation to vote for the $3.5 trillion Democratic reconciliation bill.

The new report , published Tuesday by the Bureau of Labor Statistics , showed month-over-month prices increased 0.1% in August. The mark was the lowest since February of 2021 and fell short of the 0.3% increase economists projected for the month.

Inflation as measured by CPI increased 0.3% month-over-month in August—slightly below expectations and below July’s rate of 0.5%. The deceleration largely reflected a fall in car prices and also in pandemic-affected services. 1/ pic.twitter.com/amiti5QNoq

— Council of Economic Advisers (@WhiteHouseCEA) September 14, 2021

Trending: American Airlines Flight Turns Around and Kicks Off Mother and Her Asthmatic 2-Year-Old Baby Over Mask Policy — Police Meet Them at the Gate

Inflation for the year remains high by recent historical standards, increasing 5.3% for all items over the past 12 months, but White House officials were adamant Tuesday’s report was evidence that President Joe Biden’s economic agenda

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Daily Truth Report • DailyTruthReport.com
Thanks for sharing!
Send this to a friend