President Biden appeared on 60 Minutes on Thursday and during the interview, he downplayed rising inflation and high food prices.
According to the Consumer Price Index (CPI), shows the CPI rose 8.3% year over year while food prices rose 11.4% over the last year, the highest since 1979.
“As you know, last Tuesday, the annual inflation rate came in at 8.3%. The stock market nosedived. People are shocked by their grocery bills. What can you do better and faster?” host Scott Pelley asked Biden.
“Well, first of all, let’s put this in perspective. Inflation rate month to month was just — just an inch, hardly at all—” Biden said.
“You’re not arguing that 8.3% is good news?”
“No, I’m not saying it is good news. But it was 8.2% or — 8.2% before. I mean, it’s not — you’re ac — we act — make it sound like all of a sudden, ‘My God, it went to 8.2%.’ It’s been—” Biden said before Pelley cut him off.
“It’s the highest inflation rate, Mr. President, in 40 years.”
“I got that,” Biden said. “But guess what we are. We’re in a position where, for the last several months, it hasn’t spiked. It has just barely – it’s been basically even.”
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