Washington CNN —For the second time in less than a week, President Joe Biden falsely claimed Tuesday that the inflation rate was 9% when he began his presidency.
The year-over-year inflation rate in January 2021, the month of his inauguration, was about 1.4%.
The Biden-era inflation rate did peak at about 9.1% – but that peak occurred in June 2022, after Biden had been president for more than 16 months.
The March 2024 inflation rate, the most recent available rate at the time Biden made these comments, was about 3.5%, up from about 3.2% the month prior.
Separate Producer Price Index data that was released on Tuesday showed the highest wholesale inflation rate in a year.
Persons:
Joe Biden, Biden, Donald Trump, ” Biden, “, it’s, Biden’s, Trump
Organizations:
Washington CNN —, CNN, Yahoo Finance, Biden, White
Locations:
Ukraine