Former President Donald Trump took aim at President Joe Biden over inflation during a call-in appearance on CNBC's "Squawk Box" on Monday.
"People are going through hell," due to rising prices, Trump said, with energy and food costs "through the roof."
Trump then made the false claim that cumulative inflation was up as much as "over 50%" in the past few years.
While inflation has hit Americans hard in the past few years, cumulative inflation is up 18% since 2021, when Biden took office.
The inflation rate is based on consumer price index data which measures the cost of everyday items that Americans tend to buy.
Persons:
Donald Trump, Joe Biden, Trump, Biden