Inflation ticked up to 3.4% for the year ending in December, an unwelcome development as the Federal Reserve grapples to contain prices.
The data that were reported on Thursday by the Bureau of Labor Statistics in an update to the consumer price index is a bit of bad news for President Joe Biden. The White House has tried to tout reports that show inflation falling, alongside the country’s strong labor market, as “Bidenomics” at work.
Real journalism.Trusted by millions.
Unlimited access to in-depth reporting, expert analysis, and the stories that shape our country.
Subscribe Now
Already a member? Log in
Print subscriber? Click here to login/register your account
Digital subscriber? Click here to login/register your account.