Joe Biden on Wednesday took a victory lap and claimed the US economy had 0% inflation in the month of July.

Inflation remains historically high.

On Wednesday it was reported that US inflation was 8.5% in July – this is still close to the highest rate in 40 years.

“Prices that consumers pay for a variety of goods and services rose 8.5% in July from a year ago, a slowing pace from the previous month due largely to a drop in gasoline prices.” CNBC reported.

“On a monthly basis, prices were flat as energy prices broadly declined 4.6% and gasoline fell 7.7%. That offset a 1.1% monthly gain in food prices and a 0.5% increase in shelter costs.” CNBC added.

Joe Biden says this is a win.

“Before I begin today, I want to say a word about the news that came out relative to the economy. I want to say a number. Zero. Today, we received news our economy had 0% inflation in the month of July. 0%.” – Biden said.

WATCH:

Biden: “Before I begin today, I want to say a word about the news that came out relative to the economy. I want to say a number. Zero. Today, we received news our economy had 0% inflation in the month of July. 0%.” pic.twitter.com/wNfR8jRIQj

— Tom Elliott (@tomselliott) August 10, 2022

And of course CNN swooped in and helped Joe Biden with a fake news headline.

Holy crap. CNN is celebrating 8.5% inflation.

Talk about out of touch! pic.twitter.com/Z8cyOAZyh1

— Steve Guest (@SteveGuest) August 10, 2022

Zero Hedge pointed out that real weekly earnings are down for a RECORD 16th consecutive month.

“Inflation-adjusted earnings have declined for 89% (16 of 18 months) of Biden’s presidency” Zero Hedge.

Real weekly earnings are down for a record 16th consecutive month.

Inflation-adjusted earnings have declined for 89% (16 of 18 months) of Biden’s presidency pic.twitter.com/IAgFtBaXJ6

— zerohedge (@zerohedge) August 10, 2022

The post Joe Biden: “Today We Received News Our Economy Had 0% Inflation in the Month of July – 0%” (VIDEO) appeared first on The Gateway Pundit.


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