Confusion Over Inflation Rates on Fox News
During a recent segment on Fox News, host Sandra Smith appeared puzzled when discussing the inflation rate with Mike Neris, a senior adviser to former Vice President Kamala Harris. The Consumer Price Index (CPI) had reportedly increased by 2.7% year-over-year in June. However, during a conversation on July 15th, Neris suggested that the rate was somewhere around 3% or 4%, despite the more accurate figures from the Labor Statistics Bureau.
Neris emphasized the need to simplify the communication surrounding inflation and related issues, noting that progress wouldn’t happen overnight. He mentioned, “The US president is Donald Trump. Republicans control Congress. They’re currently on a break, not doing anything about inflation.” Trump had made an appearance in front of the White House on that day.
Later on, Smith asked Neris directly, “Do you know what inflation rate is?” Neris reaffirmed his earlier estimate of about 3-4%. To this, Smith responded with a correction, highlighting that the actual rate was under 3% and noted, “I mean, you’re looking at 2.5% inflation right now.”
The Bureau of Labor Statistics had recently stated that the CPI rose by 2.4% annually in May, which was slightly higher than April’s increase of 2.3%. Earlier in the year, CPI stood at 2.4% in March and 2.8% in February.
Neris argued in response to Smith’s comments that Donald Trump had promised to lower grocery prices from his first day in office, but noted that six months in, prices had only risen. Smith countered, saying, “Prices have definitely gone down. They can get down more. I’ll give it to you.” Neris disagreed, maintaining that inflation was still increasing according to the latest statistics.
Smith refuted this claim, stating, “Not so. Inflation has decreased.” She explained that while inflation is essentially price growth, that growth has slowed.
On Thursday, the Democratic Party’s official X account shared a graphic illustrating a significant rise in grocery prices from 2021 to 2024, though this content was later deleted. The White House had previously responded to similar posts, highlighting inflation during Biden’s tenure.
In June 2022, US inflation peaked at 9.1%, marking the highest rate in four decades. On a brighter note, summer gas prices reportedly fell to their lowest level in four years during June, according to the American Automobile Association.
