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Biden team seeks to downplay Friday's inflation data ahead of release
By Justin Sink and Josh Wingrove
Bloomberg News
Thursday, December 9, 2021
White House economic adviser Brian Deese said today November's inflation report won't account for recent declines in the cost of energy and commodities, an effort by the Biden administration to downplay data that is sure to show a surge in consumer prices.
Deese said that the Consumer Price Index report to be released Friday is "backward looking" and won't capture "recent price movements" in gasoline and natural gas prices, as well as declines in shipping costs and commodities.
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"These declines are delivering most importantly some benefit to consumers on a go-forward basis that won't be reflected in that data," Deese told reporters at the White House today.
His comments ahead of the report underscored concern within the administration that consumer costs are weighing heavily on the president's approval rating, and pose a significant political risk for Democrats in next year’s midterm elections. ...
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