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Joe Biden
Published May 9, 2024 12:01pm EDT


BIDEN CLAIMS INFLATION WAS 9% WHEN HE TOOK OFFICE – IT WAS 1.4%


THE PRESIDENT TOUTED THE JOB HE HAS DONE IN 'BRINGING DOWN INFLATION'

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By Breck Dumas FOXBusiness
close
video


BIDEN IS TRYING TO CHANGE THE TOPIC FROM ANYTHING OTHER THAN INFLATION, BORDER
SECURITY, FOREIGN POLICY: REP. BRYAN STEIL

Rep. Bryan Steil, R-Wis., discusses Americans feeling the impact of Bidens
economic policies as he announces a new A.I. facility in Wisconsin and the GOP
unveiling a bill that targets illegal migrant voting.

President Biden claimed on Wednesday that inflation was at 9% when he entered
the White House in January 2021, when, in fact, the consumer price index (CPI)
was at a mere 1.4% at the time.




"No president has had the run we’ve had in terms of creating jobs and bringing
down inflation," Biden told CNN's Erin Burnett in an interview. "It was 9% when
I came to office – 9%."

President Biden speaks to reporters as he hosts Romanian President Klaus
Iohannis in the Oval Office at the White House on May 7, 2024 in Washington,
D.C. (Chip Somodevilla/Getty Images / Getty Images)

It’s a notion Biden has alluded to before. In April, the president said: "Look,
we have dramatically reduced inflation from 9% down to close to 3%. We’re in a
situation where we’re better situated than we were when we took office where we
– inflation was skyrocketing."

U.S. Inflation Rate Timeline (FOX News / Fox News)

BIDEN'S STUDENT DEBT HANDOUT PLAN COULD COST AS MUCH AS $1.4 TRILLION



But under Biden's watch, the inflation rate ballooned from 1.4% to 9.1% in June
2022. While it has now declined to 3.5% as of March 2024, it remains well above
the Federal Reserve’s target rate of 2%.

U.S. Inflation under Biden (FOX News)



Biden's claims come as he attempts to make the case to the American people that
the economy is better under his "Bidenomics" agenda than it was under his
predecessor, former President Donald Trump, whom he is running against for a
second term.

While the White House repeatedly touts strong economic stats, voters at home
aren't happy with Biden's job performance. A Fox News poll in March showed only
38% of Americans approve of Biden's handling of the economy.



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Although inflation has come down from its 9.1% peak, U.S. households are still
feeling the pain from rising prices during Biden's term.

Under Biden, overall inflation (seasonally adjusted) has increased 18.9% from
January 2021 to March 2024. During the same period, all food costs are up 21%,
while shelter costs are up 20.5% and energy costs are up 36.9%.



FOX Business' Edward Lawrence and FOX News' Joseph Wulfsohn contributed to this
report.




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