President Joe Biden falsely claimed food prices are coming down after Tuesday’s inflation report revealed prices at the grocery store actually increased in January.
Delivering a Tuesday afternoon keynote address at the National Association of Counties, Biden falsely claimed inflation, including food prices, is coming down.
“Today’s report on inflation shows the good is that inflation in America is continuing to come down,” Biden claimed. “Food prices at the grocery store are coming down.”
But according to the consumer price index report released Tuesday morning, the price of food at home jumped 0.5 percent compared with December. Over the past 12 months, grocery prices have gone up 10.1 percent, the numbers reflecting the month of January show.
Biden: Food prices are coming down.
Reality: Grocery prices are up 11.8% from last year.
— Rep Andy Biggs (@RepAndyBiggsAZ) February 8, 2023
Many common grocery items dramatically increased in price, including eggs prices up 70 percent, cereals up 15.6 percent, and coffee up 12.6 percent.
Overall, the consumer price index, which measures inflation, soared 0.5 percent in January compared with a month earlier. In previous months, the index had increased by one-tenth of a point in December after rising two-tenths in November.
Tuesday’s report appeared to surprise experts. Economists forecasted the index rising 0.4 percent from January and 6.2 percent from a year ago, Econoday reported.
A Moody’s report in 2022 projected Biden’s 40-year-high inflation would cost American households on average an extra $5,520 in 2022, or $460 per month.
Follow Wendell Husebø on Twitter @WendellHusebø. He is the author of Politics of Slave Morality.
Read the full article here
Discussion about this post