by Emily Peck
Axios
The Biden administration released a memo to its allies outlining its actions to combat rising costs — and blaming Republicans for blocking its efforts.
Why it matters: It’s an attempt to tell Americans that the White House is focused on bringing prices down at a time when voters are unhappy with the economy, and hold the president responsible for inflation.
“President Biden’s top economic priorities are fighting inflation and lowering costs for the American people,” writes White House deputy press secretary Andrew Bates. “Standing up to corporate price gouging is at the core of that fight.”
Catch up fast: The latest inflation figures show that prices rose 3.4% over the last year — much lower than the scorching levels seen in 2022 but still too high for comfort.