Fact-Checking President Biden's Absurd Inflation Gaffe

In a recent statement that has stirred up a debate across the political spectrum, President Joe Biden claimed that inflation was at 9% when he came into office. However, fact-checkers and various sources reveal that this assertion is not entirely accurate. According to the Bureau of Labor Statistics, the inflation rate when Biden took office in January 2021 was actually 1.4%.

This discrepancy has caught the attention of many, including political commentators and social media users. A number of Twitter users have pointed out the error in Biden's statement, highlighting the actual inflation rate at the time of his inauguration.

It's important to note that inflation rates have indeed fluctuated during Biden's term. The year-over-year inflation rate was 3.1% in January 2024, down from a peak of 9% in June 2022. This decrease is significant, but it is also crucial to acknowledge that the rate was higher than the 1.4% figure Biden claimed.

Inflation has been a key issue for the Biden administration, with efforts aimed at reducing it through various policy measures. Despite the current debate over Biden's statement, it is undeniable that the administration has made strides in addressing inflation, with the rate dropping significantly from its peak.

In the context of global inflation rates, the U.S. has experienced lower inflation than most advanced industrialized nations, but it does not rank No. 1 internationally. As of December 2023, seven countries in the Organization for Economic Cooperation and Development (OECD) had lower inflation rates than the U.S., including Canada, Denmark, Italy, Latvia, Lithuania, the Netherlands, and South Korea.

The controversy over Biden's statement underscores the importance of accurate data in political discourse and policy discussions. As the debate continues, it serves as a reminder of the need for fact-based dialogue and the critical role of fact-checking in today's information landscape.

Fact-checking Joe Biden on inflation, the deficit and consumer confidence in the State of the Union - www.politifact.com
FactChecking Biden's State of the Union - FactCheck.org - www.factcheck.org