President Joe Biden boasted Wednesday that the United States economy experienced zero inflation in the month of July, even though costs of goods and services are still up 8.5 percent from the previous year.
“I just want to say a number. Zero. Today we received news that our economy had zero inflation in the month of July,” Biden boasted during a speech at the White House.
Inflation of all consumer prices in July was flat from the previous month, thanks to a drop in the price of gasoline from June’s record highs and a sharp decrease in the cost of airfare.
“Zero percent,” Biden repeated proudly. “Zero inflation last month.”
But inflation at the grocery store continues to rise. Prices were up 1.3 percent compared with a month earlier and 13.1 percent compared with a year ago.
The cost of rent also increased by 0.7 percent from the previous month; 6.3 percent from the previous year.
He admitted the price of some items was up but that core inflation was down and pointed to the news of jobs created in the month of July as more proof the economy was improving.
“It underscores the kind of economy we’ve been building,” he said.
Biden cautiously said that inflation “may be beginning to moderate” but warned that global challenges like the war in Ukraine and more pandemic shutdowns could still hurt the economy.
But his overall assessment of the economy was positive — even as more than two-thirds of Americans view the economy as getting worse.
“The economic plan is working,” he concluded.
New cars have a 10k mark up if you want to buy one and if you can find one available which is very hard. You can order one and wait a year to get it. Used car prices are thousands more than they should be. Gas prices are only lower by not much because of the midterms coming up, right after it will go to $10/gallon. In Ca we are at $5.50+ right now and that is not good. Trump had us down to $3/gallon in Ca which is the best we can expect with all the additional taxes the state ads on. food prices are outrageous, I pay double what I did before and every time I check out my jaw drops open. I only feed two people. Home prices are outrageous which makes rents outrageous. Rent’s will not be dropping or mortgage pymts. Everyone who has an adjustable mortgage loan is receiving increases on their pymts because of the higher interest rates adjusting. So mortgage and rent pymts have all gone up and will continue to go up. Medical costs going up, all products we all buy have gone up, everyone wants to make more $$ so all services you pay for have gone up. Plumbers, roofers, electricians, handyman, day laborers, clerks, government employees and everyone demands more pay, well then we all pay for it. How is that $15/hr doing you? Liberal policies caused it all.
So tell me again that inflation is zero for July. LOL
I now refuse to associate in any way with any democrat voter. Those people are scum. They are not the type of people I want to associate with ever. Not a work, schools, community, shopping etc.
He’s delusional
But we knew that