Statement by National Economic Advisor Lael Brainard on April PCE Report

The cost of living is still too high for too many working families, but today's PCE report shows continued progress bringing down inflation. Annual core inflation is at its lowest level since March 2021, and overall inflation is down 60 percent from its peak. President Biden is going to keep fighting to lower costs, while congressional Republicans fight to cut taxes for the ultra-wealthy and big corporations.