President Joe Biden, bracing for another jump in inflation, sought to reassure Americans on Thursday that rises in energy costs and other key goods were starting to ease, but said the change might not be reflected in November data due on Friday.
The consumer price index for November is expected to have risen 6.8% compared with the same month last year, a Reuters poll of economists showed, overtaking a 6.2% increase in October, which was the fastest gain in 31 years.
Biden's top economic adviser Brian Deese appeared at the regular White House briefing to hammer home the same message. "That data is by definition backward-looking and so it won't capture some recent price movements, particularly in the areas of energy," Deese said, citing a nine-cent drop in gasoline prices nationally.
Deese also noted declines in shipping costs and certain commodities, including wheat and pork, as well as a drop in wholesale used car prices that should push consumer prices lower.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
President Joe Biden to Pay Tribute to Bob Dole at CapitolThe president is expected to offer remarks at the morning ceremony with invited guests and congressional leaders in the Capitol Rotunda for the former Republican senator and presidential contender.
Les mer »
LIVE: President Biden delivers remarks on bipartisan infrastructure law in Missouri — 12/8/21President Joe Biden travels to Kansas City, Missouri Wednesday. Biden delivers remarks on how the bipartisan infrastructure law will help Missourians by rebu...
Les mer »
Joe Biden adopts a tough new tone with RussiaJoe Biden has threatened retribution if Russian troops currently massing on Ukraine’s borders launched an invasion
Les mer »
As Joe Biden Touts Global Democracy, Signs Point to Concern Nearer to HomeA poll by the Institute of Politics at Harvard Kennedy School indicated most young Americans believe democracy is 'in trouble' or 'failing.'
Les mer »
Biden to join lawmakers in paying tribute to ‘American giant’ Bob Dole at CapitolPresident Joe Biden is scheduled to speak at a ceremony honoring his longtime friend and Senate colleague, who will lie in state at the Capitol.
Les mer »
Biden team weighs unprecedented sanctions against Russia over UkraineThe Biden administration is weighing sweeping sanctions against Russia if it invades Ukraine that could cripple Russia’s access to bond markets, throttle major commercial banks and target powerful oligarchs.
Les mer »