Claim: President Joe Biden claimed in an interview with Yahoo Finance that the inflation rate was 9% when he took office in January 2021.
Verdict: False.a report According to a survey by the U.S. Department of Labor’s Bureau of Labor Statistics, the Consumer Price Index (CPI) inflation rate was 1.4% in January 2021, when Biden took office as president.
Biden: “I think inflation has gone up slightly. It was 9% when I took office.” Said During the interview. “And now we’re down about 3%. But really, I think people are just anxious. That’s why we’re staying steady and staying the course and doing all these great jobs. We must continue to produce.”
A week after fact-checkers corrected Biden’s claim to CNN that inflation was 9% when he took office, the president reiterated that claim. @YahooFinance
“When I joined, it was 9%.”It was 1.4% https://t.co/jkvPGd2ZLx pic.twitter.com/XnMha9kuJu
— Alex Thompson (@AlexThomp) May 14, 2024
Prior to his interview with Yahoo Finance, Biden claimed in an interview with CNN on May 8 that the inflation rate was 9% when he took office.
According to fact-checking website Snopes, Biden’s claims are error He explained that when he first took office, the inflation rate was 1.4 percent. The inflation rate reached 9.1% “almost a year and a half” after he took office.
Inflation remains high and rose in March increased According to CNBC, to 3.5 percent.
Biden continues to blame former President Donald Trump for high inflation, even though it remains high. Biden told reporters at the White House in April that his administration had “significantly reduced inflation from 9% to nearly 3%.”
As of November 2023, a Big Mac burger, medium-sized drink, and medium-sized fries at McDonald’s costs $18, an increase of $10 from 2018 during the Trump era.
