Experts & Data Show Inflation Rise Still Temporary - Biden

President Joe Biden in a statement this week tried to allay concerns over the issue of price hikes threatening the U.S. economic recovery, saying the current surge in inflation was “temporary” and not a long -term problem.

He also mentioned that the best way to keep the economy on track was to approve additional state budgets in the form of bipartisan infrastructure packages.

In fact Biden insisted that his vaccination program and domestic agenda, including injecting trillions of dollars into the economy would “ease inflationary pressures” rather than increase them.

The global supply chain has faced the challenge of getting back on track in the wake of the Covid-19 outbreak, pushing up prices on most products.

“Some people have raised concerns that this could be a sign of continued inflation, but thats not our view,” Biden said in a speech at the White House.

“Our experts believe, and the data shows, that most of the price increases we have seen are still expected to be temporary,” he explained.

Biden also stressed that the overall economic situation is healthy despite “gloomy forecasts” from Republican critics over the six months he has ruled the country.