President Biden has said that fighting inflation remains a priority for his administration, but the rate of price increases has remained stubbornly high. President Biden has a story he wants to tell voters about the economy, one of consistent job growth over the course of his presidency and of a pandemic recovery that has led the world.showed consumer prices rising 3.5 percent from March 2023 to March 2024.
Gasoline prices are rising once again, a typical occurrence as summer approaches. Although they are below their peak during the Biden presidency, they are significantly higher than when he took office. In early 2021, average gas prices were $2.42. Today they are about $3.50, according to the Biden issued a statement last week after the March consumer price index report. He stressed that inflation had declined by more than 60 percent from its peak but said, “We have more to do to lower costs for hard-working families.” He added, “Fighting inflation remains my top economic priority.”But presidents have few weapons in the fight against inflation.