Biden On CPI Report: "We Will Build 2m New Homes"

US President Joe Biden has issued a statement on today's CPI report, touting that inflation has fallen, "more than 60% from its peak," and that, "core inflation fell to its lowest level in three years," but stressing that "prices are still too high."

• Biden, nodding towards the outsized role of shelter on overall inflation, says: "Prices are still too high—so my agenda will give families breathing room by building two million new homes to lower housing costs..."
• Biden also reaffirms two of his central policy initiatives, which the White House argues can tackle prices, "[my agenda will take] on Big Pharma to lower prescription drug prices, and cal[l] on grocery chains making record profits to lower grocery prices for consumers."
• Biden also renews attacks on Republicans for a supposed plan to cut social welfare provisions: "[Republicans] would protect special interests and Big Pharma, and undermine workers and seniors by slashing Social Security and Medicare. All that would send inflation skyrocketing. I have a different vision for the future: one in which we take on special interests to lower costs and give the middle class a fair shot."
• Social Security and health are two areas of strength for Biden. A new KFF Health Tracking Pollhas found that, “President Biden has a clear trust advantage over former President Trump" in addressing health care costs, abortion policy, and on managing the future of Medicare and Medicaid.