US President Biden: We are making progress in the fight against inflation

US President Biden made an assessment of February personal consumption spending data, which was announced today.

Noting that his fight against inflation is not over, Biden said: “We are making progress in the fight against inflation. Today’s data shows that annual inflation has fallen by about 30 percent since the summer, amid low unemployment and steady growth. she used the phrase.

US personal consumption spending rose 0.2% in February, below market expectations, according to data released today by the US Department of Commerce.

The personal consumption expenditures price index, on the other hand, rose 0.3 percent monthly and 5 percent annually in the same period.

The Basic Personal Consumption Expenditure Price Index, which excludes food and energy, which the US Federal Reserve (Fed) views as indicators of inflation, rose 0.3 percent on a month and 4.6 percent on a yearly basis. in February, slowing down compared to previous months. (AA)