Biden claims zero percent inflation.

[tahuyaman]

Joe Biden just claimed that there was "zero percent inflation" in July. I guess that 8.5% inflation rate is a figment of our imagination

Biden Says There Was 'Zero Inflation' in July

President Joe Biden says that the US economy is on track, while urging congress to pass the Inflation Reduction Act. "Today, we received news that our economy had zero percent inflation in the month of July -- zero percent," Biden said at the White House.

news.yahoo.com

 

[MarathonMike]

Biden also tries to shake hands with invisible people, so he tends to see things that aren't there.

 

[Harpy Eagle]

Joe Biden just claimed that there was "zero percent inflation" in July. I guess that 8.5% inflation rate is a figment of our imagination

Biden Says There Was 'Zero Inflation' in July

President Joe Biden says that the US economy is on track, while urging congress to pass the Inflation Reduction Act. "Today, we received news that our economy had zero percent inflation in the month of July -- zero percent," Biden said at the White House.

news.yahoo.com

Numbers are hard, he was only off by 8.5 percentage points!

 

[Harpy Eagle]

Biden also tries to shake hands with invisible people, so he tends to see things that aren't there.

Maybe they are there and we just can't see them.

 

[task0778]

Remember Ted Baxter, the idiot newscaster on the Mary Tyler Moore TV show many years ago, played by the great Ted Knight? What we have here is the Ted Baxter of politics, and he is the President of the United States for God's sake. I have no doubt the rest of the world is looking at what's going here and thinking, "WHAT THE FUCK"?

 

[task0778]

Maybe they are there and we just can't see them.

View attachment 680291

LOL, that is kinda the definition of "invisible", no?

 

[Resnic]

Maybe he meant "0% increase in inflation".

Meaning inflation didn't go up more in the month of July. Basically, inflation didn't spike more in July.

 

[tahuyaman]

Maybe he meant "0% increase in inflation".

Meaning inflation didn't go up more in the month of July. Basically, inflation didn't spike more in July.

And that would be like a football coach bragging about a 1-10 season after going 0-11 the year before

 

[Harpy Eagle]

And that would be like a football coach bragging about a 1-10 season after going 0-11 the year before

small victories count!

 

[task0778]

Maybe he meant "0% increase in inflation".

Meaning inflation didn't go up more in the month of July. Basically, inflation didn't spike more in July.

No doubt you're right. But here's the thing: politicians, particularly the POTUS, have to clearly articulate what's going on and what it means to us and what he's going to do about it as necessary. But this guy acts like a mental moron that doesn't know his ass from a hole in the ground but knows what he's doing anyway. Which clearly he does not.

 

[Marener]

Joe Biden just claimed that there was "zero percent inflation" in July. I guess that 8.5% inflation rate is a figment of our imagination

Biden Says There Was 'Zero Inflation' in July

President Joe Biden says that the US economy is on track, while urging congress to pass the Inflation Reduction Act. "Today, we received news that our economy had zero percent inflation in the month of July -- zero percent," Biden said at the White House.

news.yahoo.com

Biden is right. There was no inflation in July. The 8.5% inflation is year over year.

 

[LordBrownTrout]

The inflation reduction act is already working. Hallelujah.

 

[tahuyaman]

Biden is right. There was no inflation in July. The 8.5% inflation is year over year.

Yeah. The 8.5% inflation rate is fake news

 

[Marener]

Yeah. The 8.5% inflation rate is fake news

8.5% is real but it’s an annual rate. Biden quoted the monthly rate which is 0.

Biden is accurate.

 

[tahuyaman]

8.5% is real but it’s an annual rate. Biden quoted the monthly rate which is 0.

Biden is accurate.

The current inflation rate is 8.5%. Period. However there was no increase in July. At some point the inflation rate will peak hopefully

 

[Marener]

The current inflation rate is 8.5%. Period. However there was no increase in July. At some point the inflation rate will peak hopefully

You can measure inflation in many different ways. I know it’s complicated but if Biden can figure it out, so can you.

 

[task0778]

8.5% is real but it’s an annual rate. Biden quoted the monthly rate which is 0.

Biden is accurate.

The inflation rate for July 2022 is still 8.5%, it didn't go up or down and it sure as hell is not zero. Maybe NBC News will convince you:


Inflation reached 8.5% in July, compared with a 40-year high of 9.1% in June, providing a measure of relief to consumers as gas prices drop.

Economists surveyed by The Wall Street Journal had projected inflation in July to fall to 8.7%. On a month-to-month basis, the July Consumer Price Index reading was unchanged from June — meaning no price growth was registered. That compares with June's month-on-month increase of 1.3%.

Consumer prices rose by 8.5% year over year in July as the summer of inflation wears on

A key measure of inflation, the Consumer Price Index, remained near 40-year highs for another month, even as the Federal Reserve tries to slow demand.

www.nbcnews.com

Saying inflation is zero is at best misinformation, and I think you know that. What that number means is that the annualized rate of inflation in July over what it was last July is 8.5%. Biden is therefore NOT accurate and neither are you.

 

[Jim H - VA USA]

8.5% is real but it’s an annual rate. Biden quoted the monthly rate which is 0.

Biden is accurate.

Yes, he is accurate, because like recession, he effectively redefined it.

Compared to last week, our convoluted CPI shows that prices did not increase since the price of gas is way down to $3.99 per gallon now. Sheesh.

If you Google inflation chart, you will get thousands of hits. Not a single one will use monthly inflation rate. Every single one will report inflation in % per annum.

 

[Marener]

The inflation rate for July 2022 is still 8.5%, it didn't go up or down and it sure as hell is not zero. Maybe NBC News will convince you:


Inflation reached 8.5% in July, compared with a 40-year high of 9.1% in June, providing a measure of relief to consumers as gas prices drop.

Economists surveyed by The Wall Street Journal had projected inflation in July to fall to 8.7%. On a month-to-month basis, the July Consumer Price Index reading was unchanged from June — meaning no price growth was registered. That compares with June's month-on-month increase of 1.3%.

Consumer prices rose by 8.5% year over year in July as the summer of inflation wears on

A key measure of inflation, the Consumer Price Index, remained near 40-year highs for another month, even as the Federal Reserve tries to slow demand.

www.nbcnews.com

Saying inflation is zero is at best misinformation, and I think you know that. What that number means is that the annualized rate of inflation in July over what it was last July is 8.5%. Biden is therefore NOT accurate and neither are you.

Your own article confirms what Biden was saying.

CPI was unchanged meaning no price growth was registered.

 

[Marener]

Yes, he is accurate, because like recession, he effectively redefined it.

Compared to last week, our convoluted CPI shows that prices did not increase since the price of gas is way down to $3.99 per gallon now. Sheesh.

If you Google inflation chart, you will get thousands of hits. Not a single one will use monthly inflation rate. Every single one will report inflation in % per annum.

The poster immediately before you had a link to NBC news which said exactly that.