Dropping gas prices drowned out by continued inflation
We ran the numbers: There are 2,992 news articles covering this topic. 21% (623) are left-leaning, 43% (1,275) are centrist, and 36% (1,094) are right-leaning.
The United States' inflation rate fell in August for the second consecutive month due to sharply reduced gas costs and cheaper used vehicles but many other commodities saw price increases showing that inflation is still a significant burden on American households. Left-leaning articles focus on how inflation declined slightly while right-leaning articles focus on Biden celebrating Democrats' Inflation Reduction Act while “major stock indexes are closing down roughly 4% each in response to a hotter-than-anticipated monthly inflation report”.
USA Today published a centrist article about how President Joe Biden on Tuesday touted progress on inflation even though the government's latest data reinforced concerns as the yearly pace of inflation declined slightly to 8.3% in August. But the core consumer price index, which is considered a better measure of long-term trends, showed a larger-than-expected increase, rising 6.3% compared to a year ago.
A left-leaning article from the Politico highlights how though inflation is still painfully high, it is down from an 8.5% jump in July and a four-decade high of 9.1% in June. It notes that inflation has escalated families' grocery bills, rents and utility costs. The cost of rental apartments and other services, such as health care, are likely to keep rising in the months ahead. The Fed is expected to announce another big increase in its benchmark interest rate next week.
A right-leaning article from Fox News highlights how President Biden is being slammed for a White House celebration of the Democrats' Inflation Reduction Act Tuesday, the same day higher than expected inflation in August was announced.
From the center
Is Biden responsible for dip in inflation? President's victory lap is premature, experts say
USA Today