White House: 'Inflation challenge is real,' so pass Biden's spending proposals

The White House reacted to January’s poor inflation report by calling on Congress to pass President Joe Biden’s spending proposals immediately.

The Consumer Price Index report published Thursday shows that year-over-year inflation rose to 7.5% in January, the highest rate since 1982. Furthermore, the month-over-month rate increased by 0.6%. The monthly change had decreased in December and November, something White House officials had said was an indication that “peak” inflation had already occurred and that upward pressure on prices would ease in 2022.