Biden claimed at Tuesday's AFL-CIO conference in Philadelphia that inflation is 'worse everywhere but here,' although the numbers tell a different story.
FOX Business’ host Stuart Varney on Jake Paul blasting the President over inflation, inviting the YouTube sensation onto his show to further discuss.
"Under my plan for the economy, we’ve made extraordinary progress," the president claimed. "And put America in the position to tackle a worldwide problem that’s worse everywhere but here."from April 2022, the U.S. inflation rate of 8.3% was one of the highest in the developed world, dwarfing Japan, France, Germany, Britain, Italy and Canada.
Now, just one month later, Americans are facing down a wholesale inflation rate of 10.8% that is putting even more pressure on people’s wallets. The Labor Department said Tuesday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, climbed 10.8% in May from the previous year. On a monthly basis, prices grew by 0.8%.
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