Biden's new inflation myth

Rapid Response

First, Biden called inflation “transitory.” Then he claimed inflation was at its “peak.” Both claims were false.

MYTH: On December 10, Biden said “I think it's the peak of the [inflation] crisis.”

FACTS: Since then, prices have continued to surge.

In December:

Consumer prices rose 7.0%, the fastest pace in almost 40 years.
Producer prices rose 9.8%, the largest hike on record.

In January:

Consumer prices spiked at 7.5%, the new fastest pace in 40 years.
Producer prices rose 1% in a SINGLE MONTH and 9.7% year over year, remaining near record highs.

CNBC's Rick Santelli on surging producer prices: "so anybody who's looking at the month over month and year over year making comments that 'well the rate of change is slowing down, these numbers are coming down' - not accurate." pic.twitter.com/JjzrjmHB8U
— RNC Research (@RNCResearch) February 15, 2022

And the evidence indicates things are only getting worse. Even liberal economists blame the “tremendous wall” of money in Biden’s reckless spending agenda for inflation. Now, 47% of small businesses have raised prices and an additional 32% say they will have to if supply costs continue to rise. And despite Biden’s assurances, gas prices are at near 8-year highs and only going higher.

Biden insisted we should all have “peace of mind” as Americans struggle to afford basic necessities because of Bidenflation. That’s hard when all Biden does is keep on lying about it.