approved of the program years ago but didn t really have eyes on this particular mission, and i think he regrets it greatly, and maybe some heads will roll in the chinese military because of it. thank you very much for being with us this morning. up next, the new inflation report is back. we will talk to a key member of president biden s economic team, cecilia rouse after prices rose next month. pence is fighting back. what he plans to do about that special counsel subpoena. you re watching josé diaz-balart reports on msnbc. s. astepro starts working in 30 minutes. so you can [ spray, spray ] astepro and go. postmenopausal women with hr+ her2- metastatic breast cancer are living longer with kisqali.
back away from activities like eating out with friends. what would you say to those folks, cecilia? absolutely. inflation is painful across the economy, and that s why the federal reserve is taking action and why president biden is focused on inflation. if we go to seniors in the inflation reduction act, he was focused on decreasing costs for them in terms of health care, so many of the seniors, many of whom rely on insulin, for example, were paying those prices for insulin and starting in january, it capped at $35 a month. and starting next year, their out of pocket expenses will be capped at $2,000 a month, and through the inflation reduction act, the president is focussed
the food at home, grocery prices decelerated last month, and the increases were in restaurants. if we look at grocery prices, yes, the price of eggs increase than at a slower rate last month, and that s largely due to the avian flu. we can see wholesale prices for eggs start to come down and we expect that to be in february s report. we are seeing signs that inflation is starting to ease. i point you to a new york times article today that talks about the impact rising prices are having on senior citizen. i want to read aquote. as prices climb experts worry older individuals who are in poor physical health or have lower incomes are at greater risk for not having enough food or having less healthy foods and the squeeze has the potential to isolate them socially if they
easing as chair powell has said. this is going to be a process, and inflation remains too high and we are making progress we need to see in order to achieve the soft landing where the inflation comes down and the labor market remains robust. what do you read on the prices continuing to rise again, on that specific issue? well, inflation is when prices are rising, so we understand that inflation is too high. if we look at inflation in january, which was overall 6.4%, that s incontrast to 9.1% last june, so the rate of inflation has come down. we know if we look at the headline inflation, as you pointed out, and as i pointed out, gas prices accelerated in january and are easing in february, and they arevolatile of the result of the war in ukraine and other global events.
notably the price of eggs up another 8.5%. with us to talk about this is cecilia rouse, chair of the white house economic advisers. it s a pleasure to see you and thank you for being with us. what is your read on this inflation report? this report suggests that we have an economy that is resilient and an economy where we see inflation continuing to ease with a labor market that remains robust. what we learned today inflation year on year has come down for seven straight months in a row, and the month on month increases where ad expectations and they were stable, so it was the same month on month increase in terms of core inflation, and gas prices increased in january compared to december, and we can see in february gas prices declined. we continue to see that inflation is showing signs of