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President Joe Biden on Monday hit back at growing concerns that his massive spending plans were driving up inflation, insisting that price rises were 'temporary' and 'expected' as the nation tried to bounce back from the pandemic.
Fears of inflation are emerging as a key obstacle for passing his infrastructure and family plans.
And Republicans are using the data to argue that the administration's tidal wave of spending is making life worse for working families by driving up prices of staples such as milk and gas.
'Some folks have raised folks that this could be a sign of persisting inflation,' said Biden in a White House address from the State Dining room. 'That's not our view
'Our experts believe and the data show that most of the price increases we've seen were expected and are expected to be temporary.
'The reality is you can't flip the global economic light back on and not expect this to happen.'
President Biden hit back at inflation fears, saying that price rises were 'temporary' and 'expected' as the nation tried to bounce back from the pandemic
Inflation jumped 5.4 per cent in June compared to a year ago
The cost of staples like milk are on the
The economy roared back into life as vaccinations became available in the spring, COVID-19 restrictions were loosened and Biden's $1.9 trillion stimulus package was spent.
Forecasts suggest the
