Biden Says U.S. Isn’t ‘Facing Record Inflation’ Anymore as Prices Spike 8.2%

President Biden claims the country is no longer experiencing record inflation as prices spike by 8.2%.

QUICK FACTS:
  • President Biden claims the United States is no longer “facing record inflation” amid an 8.2% spike in prices, Fox News reported.
  • “…it’s not record inflation anymore. I’m bringing it down. Look what we inherited. I inherited 6.5% unemployment, it’s down to 3.5%,” Biden said during an interview with NewsNation. “We lost hundreds of thousands of manufacturing jobs. We’ve created over 700,000 manufacturing jobs. Things are moving.”
  • Last month, the consumer price index climbed by 8.2% on an annual basis with the figures revealing an increase of 0.4% in goods including groceries, rent, and gasoline when compared to August 2022.
  • “The most common price of gas in America is $3.39, down from over five dollars when I took office,” Biden said Thursday. “We need to keep making that progress by having energy companies bring down the cost of a gallon of gas that reflects the cost of paying for a barrel of oil.”
BIDEN ON AMERICAN’S BEING ‘BETTER OFF’ DESPITE RECORD HIGH PRICES:

“As that [GDP] report showed, you have people who are now in a position where the combination of pay raises and job security, they’re now better off, even with inflation than they were before it,” Biden said.

BACKGROUND:
  • Earlier this month, American Faith reported families in the U.S. have lost $6,000 in annual wages thanks to President Biden’s soaring inflation, revealed by a Heritage Foundation study.
  • “People are just absolutely being crushed,” Heritage fellow E.J. Antoni told Fox Business. “It’s not the price of caviar and yachts that are driving these numbers. It’s necessities, it’s staples. It’s things like eggs, milk, flour, soup. These are things that are up 20 or 30 percent year-over-year.”
  • “Inflation was 1.4% when Biden took office — it was essentially non-existent,” Antoni continued. “And somehow, in just 18 months, he ran it up to over 9%. Again, it really is like these people live in a fantasy world. It’s mind-boggling.”

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