Speaking to reporters after a NATO summit in Madrid, Spain, Thursday, President Joe Biden again falsely claimed inflation in the United States is lower than the rest of the world.
Biden: "Our inflation rate is lower than other nations in the world"
— RNC Research (@RNCResearch) June 30, 2022
FACT CHECK: The U.S. has one of the highest inflation rates in the developed world. pic.twitter.com/7kXqz4lrgw
But this statement, which Biden makes often, isn't true.
"Last year, businesses around the world started raising prices at a pace not seen in decades. Among major economies, one country was hit the worst - the United States," the BBC reports. "Prices jumped at an annual rate of 4.7% last year - faster than any other country in the Group of Seven (G7) advanced economies, according to the Organisation for Economic Cooperation and Development (OECD). In the UK, for example, inflation was just 2.5%. Last month, inflation in the US hit 8.6%, one of the highest rates in the world."
Biden lies again! He claims inflation is worse worldwide. pic.twitter.com/HWl1LulPz9
— MarineVet (@drummy46) June 30, 2022
Under Biden's economic policies and runaway government spending, inflation has hit new records and 40 year highs.
Here are the items really driving up inflation:
— Heather Long (@byHeatherLong) July 13, 2021
Car rental 87.7% (y/y change)
Used cars 45.2%
Gas 45.1%
Laundry machines 29.4%
Airfare 24.6%
Moving 17.3%
Hotels 16.9%
Furniture 8.6%
Bacon 8.4%
TVs 7.6%
Fruit 7.3%
Shoes 6.5%
Fresh fish 6.4%
New cars 5.3%
Milk 5.6%
Rent (OER) 2.3%
The vast majority of Americans, including independents, are dissatisfied with Biden's job on the economy.
New CBS News polling:
— WPA Intelligence (@WPAIntel) June 27, 2022
-Biden approval is at new low,
-66% disapprove of his handling of economy
-71% disapprove of his handling of inflation
-81% say things “are going badly”
-75% say “economy is bad.-”
-45% say their “financial situation is bad” (12% jump from 2021)