9/13, 7:27 PM (Source: TeleTrader)
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WH: Some food prices seeing deflation

Jared Bernstein (pictured), the chair of the Council of Economic Advisers to United States President Joe Biden, said on Wednesday that prices of some types of food are seeing deflation and not only disinflation. Wage growth was higher than the inflation rate over the past several months, he told reporters at a White House press briefing.

Gasoline prices, which pushed the headline inflation figure up in August, are being tracked closely by the White House, Bernstein underlined.

Moving on to the topic of negotiations between United Auto Workers and carmakers about labor contracts, Bernstein claimed that Biden was "engaged" in and briefed on the situation.

Baha Breaking News (BBN) / MS