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7/13, 4:20 PM (Source: TeleTrader)
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US inflation unacceptably high, will tackle it - Biden

Today's headline inflation reading in the United States is unacceptably high, the White House said in an official release citing President Joe Biden, who reiterated tackling inflation remains the administration's top priority. However, Biden argued the reading is also out-of-date.

Biden reiterated he would continue working on lowering gasoline prices in the US and urged Congress to pass legislation that would reduce daily living costs for Americans. He also noted he would continue opposing Republicans' proposal to raise taxes for the working class.

The US inflation soared to higher than expected 9.1% in June and set a new record, data from earlier today revealed.

Baha Breaking News (BBN) / ND