{"id":634366,"date":"2021-08-11T17:22:57","date_gmt":"2021-08-11T21:22:57","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=634366"},"modified":"2021-08-11T17:23:01","modified_gmt":"2021-08-11T21:23:01","slug":"biden-on-consumer-price-index-showing-prices-rising-at-fastest-pace-since-2008-a-good-monthly-report","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-on-consumer-price-index-showing-prices-rising-at-fastest-pace-since-2008-a-good-monthly-report\/","title":{"rendered":"Biden On Consumer Price Index Showing Prices Rising At Fastest Pace Since 2008: \u2018A Good Monthly Report\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">34<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-on-consumer-price-index-showing-prices-rising-at-fastest-pace-since-2008-a-good-monthly-report%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=634366&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/08\/Biden-4-scaled-1.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p>President Joe Biden praised a report from the Department of Labor on Wednesday showing that the consumer price index rose 5.4% for the month of July, the fastest-level since 2008.<\/p>\n<p>The Wall Street Journal <a href=\"https:\/\/www.wsj.com\/articles\/us-inflation-consumer-price-index-july-2021-11628633099\">reported<\/a>:<\/p>\n<blockquote readability=\"15\">\n<p><em>Consumer prices rose 5.4% in July from a year earlier, the same pace as in June, the highest 12-month rate since 2008, the Labor Department reported Wednesday. On a monthly basis, however, price pressures weakened. The department\u2019s consumer-price index climbed a seasonally adjusted 0.5% in July from June, a significantly slower pace than its 0.9% increase in June from May, though well above the average 0.2% rate from 2000 to 2019.<\/em><\/p>\n<\/blockquote>\n<p>\u201cToday, I\u2019m pleased to share more good news with the American people,\u201d Biden said during a press conference on Wednesday. \u201cThe latest report on consumer price shows, the prices show, that we\u2019ve expanded some easing, excuse me, the expected easing we thought was going to come has increased, that we are, we\u2019ve seen a good monthly report.\u201d<\/p>\n<p>\u201cA monthly core consumer price index is down by nearly two thirds from its pace over the past three months. And when you take out the goods directly impacted by the pandemic like cars and airplane tickets, and the monthly core consumer price index is less than two tenths of 1%,\u201d Biden claimed. \u201cJobs are up and monthly price increases have come down.\u201d<\/p>\n<p>Aneta Markowska, chief financial economist at Jefferies LLC, told The Wall Street Journal that a slight weakening of price pressures from June to July is not necessarily a sign that inflation is starting to slow down.<\/p>\n<p>\u201cIt\u2019s like the equivalent of going from a 104-degree to a 101-degree fever\u2013it\u2019s still elevated. It\u2019s just not as hot as what we saw in the prior three months,\u201d Markowska said. \u201cThere is still some pressure in the pipeline that should show up in the next few months.\u201d<\/p>\n<p>WATCH:<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\" readability=\"7.0680628272251\">\n<p lang=\"en\" dir=\"ltr\">Joe Biden: Consumer price index showing prices again rising at fastest pace since 2008 is \u201ca good monthly report\u201d <a href=\"https:\/\/t.co\/GCqxxWJlPC\">pic.twitter.com\/GCqxxWJlPC<\/a><\/p>\n<p>\u2014 RNC Research (@RNCResearch) <a href=\"https:\/\/twitter.com\/RNCResearch\/status\/1425516763287101451?ref_src=twsrc%5Etfw\">August 11, 2021<\/a><\/p>\n<\/blockquote>\n<p>PARTIAL TRANSCRIPT:<\/p>\n<blockquote readability=\"26\">\n<p><em>JOE BIDEN, PRESIDENT: Today, I\u2019m pleased to share more good news with the American people. The latest report on consumer price shows, the prices show, that we\u2019ve expanded some easing, excuse me, the expected easing we thought was going to come has increased, that we are, we\u2019ve seen a good monthly report. A monthly core consumer price index is down by nearly two thirds from its pace over the past three months. And when you take out the goods directly impacted by the pandemic like cars and airplane tickets, and the monthly core consumer price index is less than two tenths of 1%.<\/em><\/p>\n<p><em>Here\u2019s where we stand. Jobs are up and monthly price increases have come down. Economic growth is up, the fastest in 40 years, and unemployment is coming down. So I would argue the Biden economic plan is working. Historic investments are on the way as well. This isn\u2019t accidental; it\u2019s a result of our strategy to get shots in arms and grow the economy from the bottom up, in the middle out, and as the rest of the result of the American Rescue Plan and everything else that we\u2019ve done. And as a result of the grit and determination and really hard work of the American people.<\/em><\/p>\n<\/blockquote>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden praised a report from the Department of Labor on Wednesday showing that the consumer price index rose 5.4% for the month of July, the fastest-level since 2008.The &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-634366","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/634366","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=634366"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/634366\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=634366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=634366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=634366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}