Nat’l Economic Council Head: December Inflation Report ‘a Welcome Deceleration from October and November’ and ‘Reflects Some Progress’

On Wednesday’s broadcast of MSNBC’s “Stephanie Ruhle Reports,” National Economic Council Director Brian Deese said that while current price increases are too large, the December inflation report “was actually a deceleration, a welcome deceleration from October and November.” And “that reflects some progress.”

Deese said, “What we saw was the 0.5% increase month-over-month was actually a deceleration, a welcome deceleration from October and November. And that was driven by a reduction in energy prices, principally gas prices, which is good news, as well as a reduction in the rate of increase in food costs, particularly food at the grocery store. So, that reflects some progress. At the same time, you’re absolutely right. The price increases are too high and they are affecting families’ household budgets and their outlook on the economy, which is why we are focused on the things that we can do to sustain that strong growth that you’re saying, sustain a strong economy, a sustainable economic recovery, while going at prices.”

Follow Ian Hanchett on Twitter @IanHanchett

 

.

Please let us know if you're having issues with commenting.