Biden sees progress in inflation data, but says there is still work ahead

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US President Joe Biden said on Tuesday that prices in the country have been “essentially stagnant” for the past two months.

In a statement, the Democrat stressed that the consumer price index (CPI) released today points to “progress” in fighting inflation, but acknowledged that “there is still work to be done”.

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Biden pointed out that gas prices have dropped by about US$ 1.30 since the beginning of the summer in the Northern Hemisphere, and that there has been a deceleration in the values ​​practiced in the markets.

“And real wages rose again for the second month in a row, giving working families a little breathing room,” he said.

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The American president added that the government will need more “time and determination” to contain the rise in inflation.

“My economic plan is showing that as we lower prices, we are creating high-paying jobs and bringing manufacturing back to the US,” he said.

Source: CNN Brasil

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