Across the country, gas prices are at an all-time high, but inflation has eased slightly

WASHINGTON – The country faces higher prices as gasoline hit a record high at $4.40 a gallon, up three cents from Tuesday.

This comes as US inflation hit 8.3% in April, down slightly from March.

“It was good to see inflation slowing compared to last month, but looking through the hood of this data, there’s still plenty to worry about,” Heather Boushey said.

Boushey is on the President’s Council of Economic Advisers and she told Local 10 that despite the slight drop in inflation, food and fuel prices could remain high for some time.

“We know that this inflation has been caused by supply chain challenges because of this historic pandemic and more recently because of Putin’s unprovoked war in Ukraine which has led to higher energy prices and , quite frankly, food prices,” Boushey said.

His remarks come as President Joe Biden hit the road on Wednesday, landing in Illinois where he heard farmers talking about the impact of inflation on them.

A d

In response, the Commander-in-Chief announced measures to ease the pain at the grocery store by increasing fertilizer production and cutting red tape for farmers in an effort to increase U.S. agricultural exports, which could relieve high food prices. .

“Right now America is fighting on two fronts at home, it’s inflation and rising prices abroad, it’s helping Ukrainians defend their democracy and feeding the world’s hungry “, said Biden.

The White House has said it is also lifting Trump-era tariffs on China, but at this point President Biden said no decision has yet been made.

Copyright 2022 by WPLG Local10.com – All rights reserved.

Edward N. Arrington