White House economic adviser admits July inflation report is ‘no victory lap’
Fox News
White House Council of Economic Advisers member Jared Bernstein admits consumer prices cooling in July is "no victory lap," with key areas still seeing 40-year high inflation.
The Labor Department said Wednesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 8.5% in July from a year ago, below the 9.1% year-over-year surge recorded in June. Prices were unchanged in the one-month period from June.
"Our work here is far from done. I cannot underscore that enough," Bernstein said. "The president will continue to talk about unacceptably high inflation."
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