Overview

• Biden falsely claimed inflation was 9% when he took office, though it was actually 1.4%.
• The White House argues that factors causing inflation were already in place when Biden assumed office.
• Inflation peaked at 9.1% in June 2022 and has since fallen to 3.4%, still above the Federal Reserve's target of 2%.
• Republicans blame Biden's spending policies for high inflation and use it as a key campaign point.
• Consumer sentiment has declined, with many voters doubting economic improvements under Biden's administration.