Statement on the Bureau of Labor Statistics Report on the Consumer Price Index for August

Today's data show more progress in bringing global inflation down in the U.S. economy. Overall, prices have been essentially flat in our country these last 2 months. That is welcome news for American families, with more work still to do. Gas prices are down an average of $1.30 a gallon since the beginning of the summer. This month, we saw some price increases slow from the month before at the grocery store. And real wages went up again for a second month in a row, giving hard-working families a little breathing room.

It will take more time and resolve to bring inflation down, which is why we passed the Inflation Reduction Act to lower the cost of health care, prescription drugs, and energy. And my economic plan is showing that, as we bring prices down, we are creating good-paying jobs and bringing manufacturing back to America.