Not So Fast! Biden Celebrates April Inflation Numbers

Free-Yemen -Eye

 

 

r the publication of data asserting inflation reduced in April, but President Joe Biden claimed he understood the continued pressures on household budgets.

The White House seemed to sign with ease afte

“This morning’s decline in inflation is a sign of progress, even as we have more work to do,” Biden said Friday in a statement. “At the same time, inflation is still too high and Putin’s price hike continues to impact food and energy prices.”

Inflation, based on the personal consumption expenditures price index, dropped to 6.3% in the 12 months ending in April, according to the Bureau of Economic Analysis. The report, published Friday, signals the first decline since December 2020.

Core PCE, which does not account for food or energy prices, also fell for the

third consecutive month. Core PCE is now 4.9%, indicating inflation may have peaked and is trending downward.