After seven months of uninterrupted rise, inflation began to slow last month, as it continued to exert strong financial pressure on American households, according to official figures released on Wednesday. President Joe Biden announced a series of measures intended to help farmers and lower the cost of food, once again pointing the finger at the war in Ukraine.
Consumer prices in the United States rose 8.3% in April from a year earlier, according to data released Wednesday by the Labor Department. This number is slightly less than the 8.5% increase on an annual basis recorded in March, its highest level since 1981.
Compared to the previous month, the consumer price index also climbed 0.3% in April, the most modest increase recorded in eight months. In March, the monthly increase was 1.2%.
If the latest data gives hope that the peak has been reached, the situation remains difficult for millions of consumers-and voters-who are worried about the state of the economy.
While it is encouraging to see that annual inflation moderated in April, the fact remains that inflation is unacceptable. As I said yesterday, inflation is a challenge for families across the country and lowering it is my top economic priority.responded to President Joe Biden in a statement, citing concern expressed by Americans at the polls.
The Democratic president, who sees the rising cost of living declining to a weak spot, is trying to convince Americans that the White House is doing everything in its power to act in areas it can control, while insisting the impact of the war in Ukraine on prices.
Visiting a farm in Kankakee, Illinois, he announced very targeted measures to counteract price increases caused by Putin and reduce costs for farmers, as well as food prices.
” Right now, America is fighting on two fronts. To us, it is inflation and price increases. Abroad, it helps Ukrainians defend their democracy and feeds the hungry around the world because of Russia’s atrocities. “
The White House has notably announced doubling funding for national fertilizer production and increasing technical assistance for a accurate farming driven by technology.
American farmers helped Americans through the COVID-19 pandemic and are now helping to deal with the effects of the war Russia launched on Ukraine, Biden argues. You are the backbone of freedomdid he declare.
The conflict has a negative impact on global food security, not only because of the large role of the two countries in exporting many cereals and crops, but also on agriculture abroad.
Russia, under severe international sanctions, is the largest exporter of fertilizer in the world.
On Tuesday, President Biden vowed that he would do everything to curb rising prices that are burdening households, showing this fight as his highest national priority.
The Republican camp, however, blames the president and the Democrats in Congress, recalling that prices began to climb before the war in Ukraine.
This all-democratic government has achieved a unique economic transformation. He took an economy that was ready to fly last January, changed its direction and drove it to the groundcriticized Republican Senate Minority Leader Mitch McConnell on Twitter.
Source: Radio-Canada
