Biden says it will take more time to lower inflation

WASHINGTON (Reuters) – U.S. President Joe Biden said it will take more time to curb inflation even as Tuesday’s consumer price data for August showed “more progress in bringing global inflation down in the U.S. economy.”

“It will take more time and resolve to bring inflation down,” Biden said in a statement released by the White House that also pointed to the recently-passed Inflation Reduction Act, which the president is scheduled to address in remarks later on Tuesday.

(Reporting by Brendan O’Brien; writing by Susan Heavey)