CULPEPER, Virginia — Unable to tame inflation that has worsened sharply under his watch, President Joe Biden plans Thursday to emphasize how his administration’s policies can cut prescription drug prices.
He traveled to Culpeper, Virginia, on the heels of a dire inflation report on Thursday morning. Consumer prices jumped 7.5% over the year ending in January, as the sources of inflation have broadened on a monthly basis with increases in the costs of rent, electricity, clothes and household furnishings.
Inflation poses a triple threat for Biden. Prices at a 40-year peak have dimmed his public support and endangered his policy agenda, while efforts by the Federal Reserve to curb inflation could meaningfully slow the strong economic growth that had been a highlight of his first year.
Biden’s trip to Virginia will also be an opportunity for him to start promoting his party’s candidates in November’s midterm elections. He’s expected to appear alongside Rep. Abigail Spanberger, D-Va., who is in danger of losing her seat representing a central Virginia district.
