President Joe Biden on Tuesday highlighted the encouraging parts of a new report on the consumer price index, but said he’ll “continue working to lower...
President Joe Biden on Tuesday highlighted the encouraging parts of a new report on the consumer price index, but said he’ll “continue working to lower costs” for Americans. “Today’s report shows annual inflation is down by a third from this summer,” he said in a statement, referring to the annual rate of inflation slowing to 6% vs.
readings around 9% during the past summer. “That is the slowest annual increase since September 2021.” The 6% rate is still three times greater than the Federal Reserve’s target of 2%. In the statement, Biden also said he’s “pleased” at Novo Nordisk’s NOVO.B, +0.57% NVO, +1.45% announcement that it’s lowering prices for several insulin products.
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