White House Press Secretary Karine Jean-Pierre said during Thursday’s press conference that “we have done the work” to lower costs for families amid record-high inflation.
Jean-Pierre said that the White House has done work over the past several months to lower costs for American families, and added that it will continue to “find ways” to lower costs.
“But look, we also understand that, you know, high costs are a really hurting families, which is why we have done the work that we have done these past several months and will continue to make sure we find that to lower costs for families,” Jean-Pierre.
The Labor Department’s consumer price index released on Tuesday, which measures prices for everyday items including groceries, rents, and gasoline rose 8.3% in August when compared to a year ago.
Since July, process have rose 0.1% in the same period.
Core prices rose 6.3% when compared to last year, which was higher than the 6.1% forecast from economists, and rose 0.6% on a monthly basis.
When asked for a response to the inflation report on Tuesday, which resulted in a 1,200 point dip to the Dow, President Biden said that the economy is “strong.”
“The stock market doesn’t necessarily reflect the state of the economy, as you well know. And the economy is still strong. Unemployment is low. Jobs are up. Manufacturing is good,” Biden said. “So I think it’s — I think we’re going to be fine.”
When pressed about the inflation number, Biden said he wasn’t concerned about the sluggish report.
“No, I’m not, because we’re talking about one tenth of 1 percent. And, you know — anyway. Thank you,” Biden said.
FOX Business’ Megan Henney contributed to this report.