Statement by National Economic Advisor Lael Brainard on the October 2024 Consumer Price Index

Today's report shows CPI inflation was 2.6% in October, close to its pre-pandemic rate. This has been a hard-fought recovery, but we are making progress for working families, with gas prices down to $3.08 per gallon, insulin prices down from as much as $400 to $35 per month for seniors, and household incomes up by $4,000 more than prices during this Administration. We will keep fighting to lower costs for families on key items like housing and health care, and against policies that would undermine our progress on bringing inflation down.