Cooling inflation figures last month were good news for the president, but his economic difficulties are far from over.
The rate of inflation slowed in October from a month earlier, providing some relief for President Joe Biden as he prepares the ground for next year’s election, but experts warned price increases are still too high and the economy isn’t out of the woods yet.
The Consumer Price Index (CPI) rose 3.2 percent in the year to October, easing from the September rate of 3.7 percent, according to data released by the U.S. Bureau of Labor Statistics on Tuesday. Core prices—which exclude volatile assets like food and energy—increased by 4 percent, also a bit less than in September.
While the numbers were better than some expected, and the lowest since July, sticky inflation might still be a problem for Biden as he prepares to run for a second term with the state of the economy high on the agenda.
