Posted on 11/10/2022 12:58:52 PM PST by Oldeconomybuyer
A slowdown in price gains delivered a second dose of welcome news for President Biden, who has spent months on the defensive about rapid inflation and his handling of the economy.
The moderation comes just two days after his party defied the kind of political blood bath that many had expected given voter concerns about the economy, including price gains that hit a 40-year high this summer.
Mr. Biden took quick credit for the slowdown in the Consumer Price Index on Thursday, saying in a statement that his policies are helping to cool price gains while acknowledging there could be more struggles ahead.
The latest data is likely to further cement Mr. Biden’s position that he does not need to change tack, even though Republicans may soon control one or both chambers of Congress.
Still, while price gains cooled somewhat, coming in at 7.7 percent, they remain uncomfortably high for consumers who continue to face higher costs for rent, food and other goods and services. Inflation is also well above the 2 percent average that the Federal Reserve aims for over time.
Republicans were quick to focus on the fact that while inflation is slowing, it is still painfully high and criticized Mr. Biden for not suggesting any type of economic pivot.
(Excerpt) Read more at msn.com ...
And the chocolate ration increased to 25 grams, from 30 grams.
JoeTatoe is an optimist - the diaper is half full.
Just wait until half the country freezes their @$$ off thes winter…
all BS all the time.. gas is not going down and neither is food
Who are you going to believe, the baked potato in the White House or your own lyin’ eyes?
“Hey kids, inflation is cooling - we might afford to eat two eggs this week! Maybe...”
It’s a cold rainy night here in my neck of the woods in SC. So I went to the ABC store to buy a pint of Vodka and chill with some Seinfeld. The price of my fav vodka jumped a dollar from last week. It caught the store clerk off guard. She didn’t realize it jumped that much. She asked me how could that be. I said one word. Inflation. She kind of looked at me puzzled.
cooling inflation?
who’s he think he’s kidding??????????????????????????????????????
The above seems to qualify as "cooling inflation".
my lyin eyes always and my empty bank account
Horay, prices are only going up 7.7 percent. Sarcasm. It’s really 15 percent.
There’s only inflation for the stuff you really need on a daily basis.
My favorite local brewery raised the price of a 6 pack of ale from 9.49 to 11.99. I will only imbibe one a week now.
Cmon man...my govt initiated recession is paying big dividends. People cant borrow or spend frivolously and gas is still only 3.75 a gallon. Its was 9.00 dollars when I took over.
The only thing cooling is home prices.... are those included in this?
Biden is a mental midget, he is acerbic, he is a liar, and a pedophile. Way to go all of you who voted for this stinking pile of excrement.
>She kind of looked at me puzzled.
She probably votes too.
Because 7.7% inflation is SOOO much better than 8.2%...
“A slowdown in price gains”
BIDEN IS WINNING! Built Back Better!!
Unfortunately too many people believe this claptrap.
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