Biden optimistic about economy despite price increases

President Joe Biden on Friday expressed confidence that the economy would improve despite inflation reports showing prices are still increasing.

"When I travel the country, I see optimism for this year and the years ahead. The optimism of families with just a little bit more breathing room thanks to our work to get workers back into jobs," he said, according to the Washington Times.

The Consumer Price Index for January rose 5.4% over the previous year, the Department of Commerce announced Friday. Prices rose 0.6% from December to January. From November to December, prices rose 0.2%, indicating that inflation had increased.

Despite the poor figures, Biden remained optimistic that the nation would be able to tackle economic adversity, saying "[a]s I've long said, there may be setbacks along the way but we face global economic challenges from a position of strength."

First lady Jill Biden on Friday indicated that Biden was likely to run for reelection in 2024, saying "[h]e’s not finished what he’s started. And that’s what’s important."

Ben Whedon is an editor and reporter for Just the News. Follow him on Twitter.