WASHINGTON (AP) — The Trump administration is set to loosen a federal rule that requires grocery stores and air-conditioning companies to reduce greenhouse gases used in cooling equipment, in what officials say is a push to lower grocery costs.

President Donald Trump and EPA Administrator Lee Zeldin are expected to make an announcement at 11 a.m. EDT. Watch live in our video player above.

The head of the Environmental Protection Agency, Lee Zeldin, said the Biden-era rule imposes costly restrictions that limit the type of refrigerants U.S. businesses and families can use.

READ MORE: EPA rule sharply limits HFCs, gases used as refrigerants

The new rule will "allow businesses to choose the refrigeration systems that work best for them, saving them billions of dollars. This will be felt directly by American families in lower grocery prices," Zeldin said in a statement released before a White House event Thursday where President Donald Trump is scheduled to announce the changes. Executives from Kroger, Piggly Wiggly and other grocery chains are expected to join him.

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With voter concerns over the cost of living spiking before pivotal elections in November, the Republican administration is trying to address affordability issues. It is not clear how much or how quickly the loosening of the refrigerant rule might ease grocery prices.

Inflation in the United States increased to 3.8% annually in April, amid price spikes caused by the Iran war and President Donald Trump's sweeping tariffs. Inflation is now outpacing wage gains as the war has kept oil and gasoline prices high.

The administration's action on refrigerants represents a reversal after Trump signed a law in his first term that aimed to reduce harmful, planet-warming pollutants emitted by refrigerators and air conditioners. That bipartisan measure brought environmentalists and major business groups into rare alignment on the contentious issue of climate change and won praise across the political spectrum.

The 2020 law reflected a broad bipartisan consensus on the need to quickly phase out domestic use of hydrofluorocarbons, or HFCs, that are thousands of times more potent than carbon dioxide and are considered a major driver of global warming.

The EPA action highlights the second Trump administration's drive to roll back regulations perceived as climate friendly. The plan is among a series of sweeping environmental changes that Zeldin has said will put a "dagger through the heart of climate change religion."

Environmentalists have criticized the administration's plans, saying a proposed rule announced last year would exacerbate climate pollution while disrupting a yearslong industry transition to new coolants as an alternative to HFCs.