White House Official: US headline inflation will rise due to increasing gas costs.

On late Wednesday, a White House official told Fox News that they expect headline inflation to rise because gas prices were 8.5% higher in April than in May.

June 10, 2022 - 12:17 PM 332 views

White House Official: US headline inflation will rise due to increasing gas costs.

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© White House Official: US headline inflation will rise due to increasing gas costs.

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On late Wednesday, a White House official told Fox News that they expect headline inflation to rise because gas prices were 8.5% higher in April than in May.

Additional Takeaways

The airline ticket prices will soak into the core inflation rates due to the jet fuel rate hike.

They strongly believe that the inflation rate will be cautious and diminish at the end of the year 2022 when compared to the rate in the year 2021.

The profits in the labor market and the high demand for goods don’t point out that we are in a recession. They said it was very unfortunate.

The government is at a decent transition point for a stable economy's growth.

They are inquiring about a transition in spending habits from purchasing goods to purchasing services.

They believe that the transition will alleviate tension in the supply chain department as money moves from the stuff to the services.

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