U.S. President Joe Biden is tackling high gas prices to mitigate consumer pain. But he has fewer tools to address bigger grocery bills, which are just as worrisome for voters, writes GinaChon
The U.S. consumer price index rose 8.5% in the 12 months through March 2022, the biggest increase since December 1981, the Labor Department said on April 12. Economists surveyed by Reuters had expected the index to rise by 8.4%.
Gasoline prices rose 48%, while the cost of food to be consumed at home increased 10%. In that category, meat was up 14.8%, milk rose 13.3% and eggs increased 11.2%.People shop in a grocery store in Manhattan, New York City, U.S., March 28, 2022.
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