Biden: We are making progress in tackling inflation

[Fotoğraf: Reuters (Arşiv)]

US President Joe Biden made an assessment of the personal consumption expenditures data for February, which was announced today.

Noting that their fight against inflation is not over, Biden said, “We are making progress in the fight against inflation. Today’s data shows that annual inflation has fallen by about 30 percent since summer, on the backdrop of low unemployment and stable growth.” used the phrase.

Personal consumption expenditures in the US increased by 0.2 percent in February, below market expectations, according to data released by the US Department of Commerce today.

Personal consumption expenditures price index, on the other hand, increased by 0.3 percent monthly and 5 percent annually in the same period.

The core personal consumption expenditures price index, which excludes food and energy items, which the US Federal Reserve (Fed) considers as inflation indicators, increased by 0.3 percent on a monthly basis and by 4.6 percent on an annual basis in February, slowing down compared to previous months.

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