Christian Datoc, White House correspondent for The Washington Examiner
President Joe Biden released a grim statement in response to the latest Consumer Price Index report.
The Bureau of Labor Statistics announced Friday that year-over-year inflation rose to 8.6% in May, ahead of the 8.2% projections. Prices across nearly all sectors, including energy, food, and housing, saw increases.
“Today’s report underscores why I have made fighting inflation my top economic priority. While it is good to see critical ‘core’ inflation moderating, it is not coming down as sharply and as quickly as we must see,” the president wrote. “Even as we continue our work to defend freedom in Ukraine, we must do more — and quickly — to get prices down here in the United States.”