In an interview with Yahoo Finance, President Joe Biden claimed inflation was 9 % when he took office in January 2021.
VERDICT: FALSE. The Consumer Price Index ( CPI ) inflation rate was at 1.4 percent in January 2021, according to a report from the Bureau of Labor Statistics of the U.S. Department of Labor.
” I think inflation has gone slightly up, it was at 9 % percent when I came in”, Biden said during the interview. ” And, it’s now down around 3 % percent. But, the fact is, I think people are really uncertain. That’s why we need to be persistent, stay the course, and keep creating these remarkable work.
A year after fact- chess corrected Biden’s say to CNN that cpi was at 9 % when he became president, the senator repeats it to @YahooFinance
” It was at 9 % when I came in”It was 1.4 % https ://t.co/jkvPGd2ZLx pic. twitter.com/XnMha9kuJu
— Alex Thompson ( @AlexThomp ) May 14, 2024
Due to Biden’s discussion with Yahoo Finance,  , during an interview with CNN on May 8,  , Biden , claimed that prices had been at nine percent when he came into office.
According to the fact-checking site Snopes, Biden claimed that his state was false and that his first-term official had inflation of 1.4 percent. Inflation did n’t reach 9.1 % until “nearly a year and a half” after he had been in office.
Inflation has remained higher, and in March prices increased to 3.5 percentage, according to CNBC.
Biden has continued to chastise former President Donald Trump for the high inflation rates despite inflation remaining great. Biden claimed that his administration had “dramatically reduced inflation from 9 % down to close 3 %” during a press conference held at the White House in April.
As of November 2023, a Big Mac burgers meal with a moderate drink and a medium- small fries then costs$ 18 at McDonald’s, a ,$ 10 increase from 2018 when Trump was in office.
