Joe Biden on Tuesday delivered remarks on his Regime’s efforts to reduce inflation from the Roosevelt Room.
The consumer price index rose 0.1% in November from the previous month.
- The consumer price index rose just 0.1% from the previous month, and increased 7.1% from a year ago, compared with respective estimates of 0.3% and 7.3%.
- Core CPI rose 0.2% on the month and 6% on an annual basis, compared with respective estimates of 0.3% and 6.1%.
- Stocks roared higher following the report as investors look for signs that runaway inflation is ebbing.
- Inflation-adjusted average hourly earnings for workers rose 0.5% for the month, though they were still down 1.9% from a year ago.
Inflation is still a huge problem but the media is trying to spin the latest Core CPI numbers.
CNBC Tuesday morning weighed in on the latest inflation numbers:
Joe Biden boasted about his economy even though inflation is still high.
Reporters shouted questions as Biden shuffled away from the lectern.
“Can you say when you expect prices to get back to normal?” a reporter asked.
Biden turned around and said, “I hope by the end of NEXT year,” says Biden. “I’m convinced they’re not gonna go up.”