Press "Enter" to skip to content

Biden hopes that lower inflation will help his political career.

President Biden sought to capitalize on positive economic news that inflation numbers are cooling. He argued his policies are helping stabilize an economy battered by a global pandemic and a war in Ukraine. Rising gas prices and food costs created a noxious political picture for Democrats ahead of the midterm elections. Inflation figures for November are the lowest year-over-year increase in many months. Gas prices are lower than they were a year ago, but they are still high by historical standards.

House Ways and Means Committee chairman:. Grocery prices rose 12 percent over the last year.