BEVERLY HILLS, California, June 11 (Reuters) – The United States will have to “live with inflation for a while”, Joe Biden admitted on Friday in California, after a further acceleration in the rise in consumer prices in May.
“We’re going to live with this inflation for a while,” the US president said at a Democratic Party fundraising meeting hosted by billionaire and media mogul Haim Saban in Beverly Hills, five months before the election. midterm in Congress.
“It will come down gradually but we will live with it for a while,” added Joe Biden.
The consumer price index (CPI) in the United States rose 1.0% last month after rising 0.3% in April, the Labor Department said. Over one year, it jumped 8.6%, after +8.3% the previous month.
The US government and many economists initially expected transitory inflationary pressures with the exit from the COVID-19 crisis.
But rising consumer prices continue to spread to new goods and services as Russia’s invasion of Ukraine weighs on global supplies of oil and food products.
(Trevor Hunnicutt report, French version Jean-Stéphane Brosse)