Kevin Hassett Says U.S. Inflation Pressures Are Rising Again, More Action Needed
JH Kim
Summary
- The White House said recent price pressures are strengthening again and that additional efforts are needed to bring down inflation.
- Walter Bloomberg reported that Kevin Hassett, director of the White House National Economic Council, said inflation pressures have been rising again recently.
- The U.S. consumer price index (CPI) rose 0.6% from a month earlier in September, while core CPI increased 0.3%, raising the possibility that the disinflation trend has been interrupted.
Forecast Trend Report by Period
The White House said recent price pressures are strengthening again and that additional efforts are needed to bring inflation down.
Walter Bloomberg reported on Oct. 19 that Kevin Hassett, director of the White House National Economic Council, said inflation pressures have picked up again after several months of slower price increases.
The U.S. consumer price index rose 0.6% in September from the previous month. Core CPI, which excludes volatile food and energy prices, increased 0.3% over the same period.
Hassett said the recent increase in price pressures could prove temporary. But it could also signal that the disinflation trend has been interrupted.
JH Kim
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