President Joe Biden urged the public to be patient as his administration reacts to higher-than-expected inflation last month.
Biden contended August’s consumer price index demonstrated “more progress in bringing global inflation down in the U.S. economy.”
DEMOCRATS HOPEFUL OF POST-ROE SURGE IN SUPPORT FROM HISPANIC WOMEN
“Overall, prices have been essentially flat in our country these last two months: that is welcome news for American families, with more work still to do,” he said Tuesday in a written statement.
Biden pointed to the decrease in gas prices since June’s national average high of $5 a gallon, adding that food cost increases had slowed and “real wages went up again for a second month in a row.”
“It will take more time and resolve to bring inflation down, which is why we passed the Inflation Reduction Act to lower the cost of healthcare, prescription drugs and energy,” he said. “My economic plan is showing that, as we bring prices down, we are creating good paying jobs and bringing manufacturing back to America.”
The Republican National Committee disagreed with Biden’s response to 8.3% inflation for the year ending Aug. 31. Core consumer prices, which exclude energy and food, also rose by 6.3% compared to the previous year. Grocery costs, in particular, spiked by 13.5%, the largest increase in 43 years.
“Families simply can’t afford Biden and the Democrats,” RNC Chairwoman Ronna McDaniel said. “Voters know that Democrats’ reckless spending put us in this mess and the only way to clean it up is to vote those politicians out. While Biden and Democrats take an out-of-touch victory lap today, Americans struggle to fill their grocery carts.”
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
Biden is expected to promote the Inflation Reduction Act during a White House ceremony later Tuesday.
