President Joe Biden boasted Wednesday that the United States economy experienced zero inflation in the month of July, even though costs of goods and services are still up 8.5 percent from the previous year.
“I just want to say a number. Zero. Today we received news that our economy had zero inflation in the month of July,” Biden boasted during a speech at the White House.
Inflation of all consumer prices in July was flat from the previous month, thanks to a drop in the price of gasoline from June’s record highs and a sharp decrease in the cost of airfare. . .
But inflation at the grocery store continues to rise. Prices were up 1.3 percent compared with a month earlier and 13.1 percent compared with a year ago.
The cost of rent also increased by 0.7 percent from the previous month; 6.3 percent from the previous year.
via joemiller