President Biden Addresses March Consumer Price Index.

President Joe Biden has stated that the 12-month inflation rate is at its lowest level since May 2021, with inflation falling by 45% from its summer peak. Gas prices are down more than $1.40 from the summer, and grocery prices fell in March for the first time since September 2020. Biden is continuing to fight to lower costs for families, including historic action to lower prescription drug costs for seniors. He is also pushing for policies to grow the economy, create jobs, and reduce the deficit, while rejecting reckless proposals from Congressional Republicans.