Biden pushing lower prescription drug costs in midterm press
President Joe Biden will head to a community college in Irvine, California, on Friday to meet with seniors and tout his administration’s efforts to reduce inflation and drive down costs
LOS ANGELES (AP) — President Joe Biden is set to highlight his administration’s efforts to lower prescription drug costs on Friday as part of his three-state Western tour this week, as he confronts a sobering inflation report in the waning weeks before midterm elections.
Despite the president's efforts, inflation is rising, and Republicans are capitalizing on higher prices, seeing openings in California and elsewhere to potentially pick up U.S. House seats. The president will also make his case in Oregon before heading back East as the reliably-Democratic governor's race closes with an independent splitting votes.
Consumer prices, excluding volatile food and energy costs, jumped 6.6% in September from a year ago — the fastest such pace in four decades. And on a month-to-month basis, such “core” prices soared 0.6% for a second straight time, defying expectations for a slowdown and signaling that the Fed’s multiple rate hikes have yet to ease inflation pressures. Core prices typically provide a clearer picture of underlying price trends.
