November 27, 2023

President Joe Biden took aim at corporations Monday for charging prices he said were artificially high even though the rate of inflation has slowed and some shipping costs have fallen.

“Any corporation that has not brought their prices back down, even as inflation has come down, even as the supply chains have been rebuilt, it’s time to stop the price-gouging,” Biden said at the launch of a new White House supply chain initiative. “Give the American consumer a break.”

While it’s true that the annual rate of inflation has cooled from its high last summer, this doesn’t translate directly into falling consumer prices. It only means that prices are rising at a lower rate.

Read more:

https://www.cnbc.com/2023/11/27/white-house-supply-chain-bidenomics-wins.html