President Joe Biden conceded Wednesday that inflation was a problem, three months after dismissing it as temporary.
“Everything from a gallon of gas to loaf of bread costs more,” Biden said during an event promoting his infrastructure bill in Baltimore. “And it’s worrisome, even though wages are going up.”
The president took a sharply different tone from his comments in July, when he dismissed rising costs and inflation as temporary and nothing to worry about.
“Some folks have raised worries that this could be a sign of persistent inflation. But that’s not our view,” he said at the White House on July 19.
“Our experts believe and the data shows that most of the price increases we’ve seen are, were expected and expected to be temporary,” he continued.