Biden insists inflation ‘averaged 2%’ — even after data shows 8.2% annual jump
By Steven Nelson
October 13, 2022 1:39pm
WASHINGTON — The White House tried to fudge the numbers Thursday after newly released data revealed that consumer prices jumped by 8.2% year-over-year last month — with President Biden insisting he’s made “progress” tackling the problem and that inflation really is on a 2% trajectory.
“Today’s report shows some progress in the fight against higher prices, even as we have more work to do,” Biden said in a written statement. “Inflation over the last three months has averaged 2%, at an annualized rate. That’s down from 11% in the prior quarter.”
Critics blasted the message as deceptive and reminiscent of Biden’s August claim that there was “zero inflation” in July despite the federal Consumer Price Index tracking an 8.5% annual jump in costs that month.
On social media, skeptics said Biden’s claim had to be fact-checked, pointing out that CPI data for September showed a 13% annual jump in the cost of groceries, a 19.8% jump in energy prices and a 6.6% increase in housing expenses.
“First it was the ‘inflation reduction act‘, a marketing spin on more spending that does many things but not reduce inflation. And now it’s spinning numbers to make things appear way better than they are. Inflation is *not* 2% annualized and everyone knows that!” wrote former PayPal president and ex-Facebook payments exec David Marcus.
“FACT CHECK: Inflation when Biden took office 1.4% Inflation today 8.2%,” tweeted Marc Lotter of the America First Policy Institute, a group that promotes the policies of former President Donald Trump.
“They have just changed the definition of 8.5% to 2%. And just like that all is good,” wrote another doubter.
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https://nypost.com/2022/10/13/biden-claims-inflation-averaged-2-after-data-shows-8-2/
