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Why Is This Election Even Close?
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this post was submitted on 29 Oct 2024
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politics
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Inflation peaked at 7% in 2021, declined every year since. Your comment is a great example of how easily mislead the masses are with simple misinformation.
CPI year-over-year, the common meaning of "inflation," was 9.1% in June of 2022.
https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-category-line-chart.htm
I assume you're using some other metric but what a bad look jumping to misinformation.
Annual rates for the fiscal year, the chart you shared goes by YoY every month so it's more detailed, ty for that.
Still, the inflation clearly peaked at the very start of the Biden Admin and went down. Thats why it's misinformation. The current administration being held responsible is a ridiculous notion to its very core.
I mean I'll do you one better, Moodys did inflation research in 2022 and found that laws signed by Biden contributed 0.1% of the then 8.5% inflation. Basically nothing, it was all Covid supply chains and a Russian oil shock.
But, that's still the explanation for why incumbents around the world are unpopular right now.
And a total scam by corporations to just raise prices for no reason.