Fact check: Biden again falsely claims inflation was 9% when he became president

📆 15.05.2024 01:04:00

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📆 15.05.2024 01:04:00
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For the second time in less than a week, President Joe Biden falsely claimed Tuesday that the inflation rate was 9% when he began his presidency.

Biden was criticized by many Republicans, including former president and current presidential rival Donald Trump, for telling CNN in an interview last Wednesday: “No president’s had the run we’ve had in terms of creating jobs and bringing down inflation. It was 9% percent when I came to office, 9%.” Biden repeated the claim about the inflation rate, albeit in slightly vaguer form, in a Tuesday interview with Yahoo Finance. This time, he said: “I think inflation has gone slightly up.

In other words, Biden’s claims make it sound like inflation is much lower today than it was when he was inaugurated – but it is actually higher, though there has been a steep decline since the June 2022 peak. And while Biden’s claims make it sound like the end of the Trump presidency was plagued by high inflation, inflation was unusually low during Trump’s last months in the White House amid the economic slowdown caused by the Covid-19 pandemic.

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