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Across the country, gas prices are at an all-time high, but inflation has come down slightly

WASHINGTON – The nation faces rising prices as gas hit an all-time high of $4.40 a gallon, up three cents from Tuesday.

This comes as US inflation hit 8.3 percent in April, down slightly from March.

“It was good to see inflation slowing compared to last month, but when you look at the hood of this data there’s still a lot to worry about,” said Heather Boushey.

Boushey is a member of the President’s Council of Economic Advisers and told Local 10 that food and fuel prices could remain high for some time to come despite the modest fall in inflation.

“We know that this inflation was caused by supply chain challenges from this historic pandemic and more recently by Putin’s unprovoked war in Ukraine, which has pushed up energy prices and quite frankly food prices,” Boushey said.

Her remarks come as President Joe Biden took to the streets on Wednesday and landed in Illinois, where he heard from farmers about how inflation is affecting them.

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In response, the Commander-in-Chief announced steps to ease the pain in the grocery store by boosting fertilizer production and reducing red tape for farmers to boost US agricultural exports, which could offer some relief from high food prices.

“Right now America is fighting on two fronts at home, it’s on board inflation and rising prices, it’s helping Ukrainians defend their democracy and feeding the hungry around the world,” Biden said.

The White House said they are also lifting Trump-era tariffs on China, but at the time President Biden said no decision had been made.

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https://www.local10.com/news/local/2022/05/11/across-the-nation-gas-prices-are-at-an-all-time-high-but-inflation-has-slightly-dropped/ Across the country, gas prices are at an all-time high, but inflation has come down slightly

Joel McCord

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