Beating the “last mile” of inflation

1 big thing

Axios

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4 • 2K Ratings

🗓️ 29 June 2023

⏱️ 11 minutes

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Summary

President Biden was in Chicago on Wednesday touting so-called “Bidenomics.” But its biggest challenge may be winning the last mile of the inflation race -- a problem echoed across much of the world. Plus, a new effort to prevent drowning deaths. And, dangerous Canadian wildfire smoke clouds U.S. skies -- again. Guests: Axios’ Courtenay Brown and California Water Safety Coalition's Will Koon. Credits: Axios Today is produced by Niala Boodhoo, Alexandra Botti, Fonda Mwangi, Lydia McMullen-Laird and Alex Sugiura. Music is composed by Evan Viola. You can reach us at [email protected]. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Go deeper: Why the last mile of the inflation race may be hardest Canada's wildfire smoke emissions break records South Koreans wake up a year or two younger as new law takes effect National Water Safety Action Plan Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Good morning, welcome to Axios today.
0:06.6	It's Thursday, June 29th, I'm Nyla Boudou.
0:09.7	Here's what you need to know today, a new effort to prevent drowning deaths.
0:13.7	Plus, dangerous Canadian wildfire smoke clouds U.S. skies again.
0:18.9	But first, today's one big thing, beating the last mile of inflation.
0:27.4	Biden was in Chicago yesterday touting so-called Bidenomics to explain his plan for growing
0:33.6	the middle class in America.
0:35.5	But the biggest challenge that may well be inflation, even though it's plunged from
0:39.6	its peak levels of a year ago.
0:41.7	The hardest part, maybe what one international report calls the last mile of the inflation
0:47.3	race.
0:48.3	Axios' Courtney Brown is here to explain, Courtney, why are economists saying that the
0:53.0	hardest part may lie ahead of us here?
0:55.9	That may seem a little strange.
0:57.8	We are definitely past the worst part of inflation, the peak levels of inflation in many countries
1:03.6	around the world.
1:05.1	But inflation has come down for what economists are calling the easy reasons.
1:10.0	You know, effects from Russia's invasion of Ukraine have receded.
1:13.6	If you remember those pesky supply chain issues that were born out of the pandemic, those
1:18.4	have been solved and all of that has put downward pressure on inflation.
1:23.2	So as global policy makers look to the final stages of getting inflation really low,
1:28.3	they're worried it's going to be much more difficult than people are anticipating.
	...

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