Reversing the wave of inflation that drove US consumer prices to a 30-year high in October will be a “top priority,” President Joe Biden said Wednesday.
“Inflation hurts Americans pocketbooks, and reversing this trend is a top priority for me,” Biden said after government data showed consumer prices accelerated in October, rising 6.2 percent over the past year.
Prices have risen throughout this year as Covid-19 vaccines allow the US economy to reopen from last year’s downturn, giving Biden’s opponents an argument against the spending bills he has staked his presidency on.
While he scored a victory last week when Congress passed a $1.2 trillion infrastructure overhaul, the fate of Biden’s $1.75 trillion Build Back Better bill aimed at improving a range of social services remains tied up in Congress.
Senator Joe Manchin is among the members whose objections to its cost have slowed its passage, and following the release of the Labor Department consumer price index data, he tweeted: “By all accounts, the threat posed by record inflation to the American people is not ‘transitory’ and is instead getting worse.”
Biden was traveling to Baltimore Wednesday to tout the benefits of his infrastructure bill as he deals with slumping approval ratings that have raised fears that his Democratic lawmakers could lose their slim majority control of Congress in next year’s midterm elections.
This story has been published from a wire agency feed without modifications to the text.
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