The White House is planning a celebration of President Joe Biden’s “Inflation Reduction Act” on Tuesday, even as consumer prices rose again in August, according to the latest numbers from the federal government.
The Bureau of Labor Statistics’ Consumer Price Index released Tuesday morning shows that inflation in August rose one-tenth of a percentage point from July and up 8.3 percent from the previous year.
Grocery prices continue rising fast, as prices rose 0.7 percent from July and 13.5 percent from the previous year. Restaurant prices are up 0.9 percent from July
The “Inflation Reduction Act” spends billions of dollars subsidizing green energy projects, subsidies for electric cars, and propping up government-subsidized health care.
But the cost of health insurance and energy keeps rising.
Fifty-six percent of Americans say President Joe Biden’s 40-year-high inflation has caused them hardship, up from 49 percent in January and 45 percent in November, a Gallup poll found this week. https://t.co/5axxAh8o9s
— Breitbart News (@BreitbartNews) September 10, 2022
Health insurance rose 2.4 percent over the past month and up 24.3 percent from the previous year. Electricity prices rose 1.5 percent from the previous month, and natural gas rose 3.5 percent.
Biden told supporters on Monday the United States was making progress on inflation.
“The American people should have confidence that we’re on the right track, that we’re seeing real progress,” he said at an event in Boston on Monday.
The president is currently planning a dramatic celebration of the “Inflation Reduction Act” on Tuesday afternoon at the White House, with a host of Democrat members of congress and guests.