U.S. President Joe Biden explained Thursday that the latest inflation figures, an issue that has been paramount during the midterm election campaign, indicate that his economic agenda is working.
«Just today we learned that inflation went down last month. Economists are saying this is a really positive sign,» he said of the economic recovery during his term, adding that «it will take time» for inflation to return «to normal levels,» as reported by Bloomberg.
In this sense, Biden has echoed the slowdown in the Consumer Price Index (CPI), while stressing that voters have supported «the efforts» made by the Biden Administration in their votes during the midterm elections.
The inflation rate in the United States last October stood at 7.7 percent, half a percentage point below the rise in prices in the month of September, thus chaining four months of moderation, to register the least intense increase since last January, according to data from the Bureau of Labor Statistics of the Department of Labor.
Thus, core inflation in the United States, which is the result of excluding food and energy prices from the calculation, stood at 6.3 percent in October, compared to 6.6 percent in September.
