A growing chorus of economists say the risks of a broader slowdown are rising.
by Rob Wile
NBC News
Price growth sped up unexpectedly in January, posing an early challenge to President Donald Trump’s economic agenda.
Inflation for so-called core items, which exclude volatile food and energy prices, climbed 3.3% over the past 12 months, the Bureau of Labor Statistics reported Wednesday, above economists’ expectations of 3.2%. On a monthly basis, the inflation measure rose 0.4%, exceeding forecasts for 0.3%.
Trump regained the White House vowing to lower prices “immediately,” promising voters on the campaign trail that he’d begin doing so “starting on Day One.” But the president, who is 24 days into his new term, cast blame on his predecessor Wednesday morning, writing on his Truth Social platform, “BIDEN INFLATION UP!”