The White House is bracing for a new inflation report coming out Thursday that it expects will show continued high prices for Americans.
The consumer price index, a key report indicating inflation in the US, will be released by the Bureau of Labor Statistics at 8:30 a.m. ET Thursday. Last month's report showed inflation rose to 7.5% in the 12 months ending in January, a near-40-year high."As we're looking ahead, we certainly assess that we expect to see a high headline and headline inflation in tomorrow's February inflation data," White House press secretary Jen Psaki said Wednesday.
"She pointed to steps the administration is taking to ease inflationary pressures, including efforts to promote legislation to boost US competitiveness, efforts to address supply chain bottlenecks at ports and elsewhere, and steps to address shortages in the semiconductor space.
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