It has been the honor and privilege of a lifetime to serve this President, and work with the scrappiest, hardest working team in politics. It's never a good bet to bet against the American people or Joe Biden. You can find me at @KateBerner from here on out.
Great news: Today’s inflation report shows annual inflation is now at the lowest level since March 2021, and less than half of what it was last June.
This is giving families real breathing room.
Here's what @POTUS wrote a year ago: "With the right policies, the U.S. can transition from recovery to stable, steady growth without giving up all these historic gains."
Since then, inflation has come down significantly, wages are up, and we've gained millions of new jobs.
Inflation has fallen for 11 months in a row, and grocery prices have come down over the past few months with a sharp and welcome drop in egg prices – that’s some breathing room for middle class families.
A year ago Biden laid out his plan to lower inflation while keeping the economy strong. With unemployment near record lows, it’s working.
“CPI increased just 0.1% for the month and 4% from a year ago, the latter being the lowest level in about two years.”
https://t.co/IPquYfValS
Biden and Dems passed plans to lower drug prices, improve supply chains, bring down energy costs, etc.
Making sure people can get a little peace of mind and control over their finances.
And, now->
JUST IN: Inflation in May cooled to 4% (y/y) – the 11th straight month of decline.
4% is the lowest inflation since March 2021.
Inflation was driven by rent/shelter and used cars. For May alone, inflation rose a modest 0.1%