President Biden celebrated the December inflation report as a sign of progress in fighting high prices, even as the data suggested the road back to normal could be bumpy.
“We saw prices go down over the course of the year for goods and services that are important for American households, like a gallon of gas, a gallon of milk, a dozen eggs, toys, appliances, car rentals, and airline fares,” Biden said Thursday in a statement.
The report showed that the consumer price index, a broad measure of the price of everyday goods including gasoline, groceries and rent, rose 0.3% in December from the previous month. Prices overall climbed 3.4% from the same time last year. …read more…