Despite the Fed releasing the inflation rate for July this morning, 8.5%, Joe stated that it was ZERO.

As in 0%.

"Joe Biden today repeatedly claimed the US saw 'zero inflation' last month - despite it actually remaining high at 8.5 percent following a 40-year spike in June.

The President told a press conference he reached the figure because the price of some products went up while the cost of others went down by the same amount."

I'm just hoping they increase our ration of chocolate from 3 ounces per day to 2 ounces per day!


Video

https://videos.dailymail.co.uk/vide...2341/640x360_MP4_1986334657666462341.mp4

That figure of 8.5 percent is a joke. Most grocery items have risen at least 30% in the past year.

Basically there is no one to challenge these claims with any authority...they plan to run the USA into the ground, drain us all dry while filling their/special interests pockets. No one seems able to stop them.....in 4 years Trump did not slow them down at all..they seized power after that and accelerated their agenda. Now it is like a run away locomotive.

You have to look hard to find anything that only went up 9 % . They say that crap then put up a chart showing what things have risen . Gas 65 % , housing 48 % food 39 % vehicles 52% . HOW in the Heck can the dilute those numbers to come up with 9 % interest? But if they hold on it will go down just by the mere fact it is a year to year comparison. This time next year it might be lower even tho stuff has gone up by 75% since Trump was in office.

Yup, Y to Y comparison, it's the NEW MATH!

No accountability and nobody cares.

Lube up

Keep in mind the OP said for the month of July, not the whole year. If prices actually dropped would it be called "deflation?"

A loaf of French bread at Wally World just went up 50%.

How about when they reduce the size but hold the same price, is that inflation?

Yup
July 2021 to July 2022, 8.5%
June 2022 to July 2022, ZERO!

Even the 8.5 is misleading, things ain't good.

The one that gets me is they say consumer spending is up or steady. Yes but less products bought but more money spent !! It's going on plastic. Reckoning day is coming

Housing market is going bad, and gas prices down slightly. There's the massive decrease to 8.5%.

Big guy was talking about job numbers as a sign of no recession. These are the same job numbers they have been fudging on since last year, trying to prop the old fart up.

clearly they will increase the chocolate ration to 50 grams because it so much more than 3 ounces

The inflation rate of the Third Quarter of 2022 is used to determine the increase in Social Security payments in 2023. Coincidence?

Thought they already announced 11% hike?

That was a projection.

No, that is called a diet for your own good, meeting government specs. of course.

Walmart home made loaf bread jumped from $1.00 to $1.50 over night. No 0% inflation around these parts. Some items are 40-50% higher.