US President Biden: It will take more time and determination to bring down inflation

US President Joe Biden said that more time and determination would be needed to reduce inflation in the country.

Biden made a written statement after the inflation data for August, which came above expectations despite the slowdown. In general, Biden stated that prices had followed a horizontal course in the last two months, and said that they welcomed this, but there was still a lot of work to do.

“Today’s data show further progress in the US economy in reducing global inflation,” Biden said

Biden drew attention to the fact gasoline prices had fallen an average of 1.30 dollars per gallon since the beginning of the summer and that some price increases in markets had slowed down compared to the last month. He also noted real wages had increased in 2 months in a row to give working families a little breathe.