Biden Says Inflation Data Due Friday Won't Reflect Falling Gas Prices

U.S. President Joe Biden said Thursday that inflation data for November due out Friday won't reflect a recent drop in some prices, including energy costs.

"Fortunately, in the weeks since the data for tomorrow's inflation report was collected, energy prices have dropped," Biden said in a statement, noting a recent fall in retail gasoline prices in some states.

"The information being released tomorrow on energy in November does not reflect today's reality, and it does not reflect the expected price decreases in the weeks and months ahead, such as in the auto market."