Slowing inflation suggests that Biden’s policies are helping, but American voters are still hurting

JOSH BOAK

WASHINGTON (AP) — President Joe Biden can make an increasingly strong case that he’s helped fix inflation — if only he can get voters to believe him.

Figures issued this past week reflected a historic level of progress on battling high prices, hinting that inflation could be near the Federal Reserve’s 2% target around the time of November’s election. The consumer price index posted an an annual increase of 3.4%, but the prices charged by the producers of goods and services rose a meager 1% over the past year.

Current and former aides say Biden is eager to do more to bring down inflation, after a price surge in 2021 and 2022 crushed his public approval ratings in a way that is dragging down his reelection efforts. They see reasons for optimism with improving consumer sentiment.

“It’s an ongoing effort,” said White House chief of staff Jeff Zients.