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Axios
Axios
Business

White House braces country for hot consumer inflation report

Joe Biden White House Inflation Brian Deese Cecilia Rouse Gas Prices

White House officials are preparing the country for a hot inflation rate ahead of the release of Wednesday's Consumer Price Index, but they insist that some key inflation components — including gas prices — are coming down.

Driving the news: Independent economists estimate that annual headline inflation will increase to 8.8% for June — up from 8.6% in May — when the Bureau of Labor Statistics releases its CPI report on Wednesday at 8:30 a.m. ET.

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