Biden said inflation reached ‘peak’ at 6.8 percent in December; it now stands at 9.1 percent

Monetary price inflation has been absolutely devastating to millions of American families and President Joe Biden has done next to nothing to address the issue aside from shifting blame away from his own policies and outright lying to the American people about the very real economic impact it has had.

Just seven months ago, Biden falsely insisted that inflation had reached its “peak” and prices would begin to decline, but prices have instead continued to rise to historic heights, CNS News reported.

That dishonest and/or ignorant assertion in December 2021 was just one of many lame excuses or false assurances offered up by Biden’s White House over the past year in regard to the soaring prices for virtually all goods and services that Americans rely upon on a daily basis, including energy, food, and shelter.

Price inflation increases to 9.1 percent on average over last year

According to the Bureau of Labor Statistics, the Consumer Price Index for June showed that prices had increased an average of 9.1 percent over the prior 12-month period, which was the largest such year-over-year increase since 1981.

The monthly CPI report showed that groceries were up 12.2 percent while restaurant food was up 7.7 percent; gasoline and fuel oil were up roughly 60 percent; electricity and gas utilities were up 13.7 and 38.4 percent, respectively; and the costs for shelter, such as home mortgage and rent prices, were up around 5.6 percent.

In response to that terrible economic news, President Biden released a statement that acknowledged that price inflation remained “unacceptably high” but argued that the CPI report for June was “out-of-date” and didn’t take into account recently observed minor price reductions in gasoline and a handful of other commodities.

Biden in December: “I think it’s the peak of the crisis”

Now flashback to December 2021, when the CPI report for November revealed that prices were up an average of 6.8 percent over a year earlier, and Biden, according to CNN at that time, suggested that while inflation was “a real problem,” it was one that the American people would not have to deal with for very much longer.

“I think it’s the peak of the crisis,” Biden told reporters. “It’s a real bump in the road. It does affect families when you walk into a grocery store and you’re paying more for whatever you’re purchasing — it matters. It matters to people when you’re paying more for gas, although in some states we’ve got the price down below three bucks a gallon, but the point is it’s not gone down quickly enough. But I think it will.”

At that time, the president blamed the supply chain backlogs and bottlenecks as the primary culprit behind price inflation and ludicrously insisted that his massive $2+ trillion Build Back Better spending package, if passed by Congress — thankfully, it was not passed — would actually help to reduce inflation instead of making the problem worse.

Excuses and blame shifting

The false assurance that inflation had reached a “peak” in December, as well as his blame of supply chain issues for inflated prices, are just a couple of the patently absurd and blatantly dishonest excuses that Biden and members of his administration have put forward to dodge accountability for the family budget-crushing price inflation that has not only persisted but grown even worse over the past year.

As seen in the video above, inflation has been excused as “temporary” and “transitory;” that it was actually a good thing; that nobody predicted it and it would be short-lived; that it was only a “high-class problem;”  that it was the fault of the pandemic, or greedy corporations, Republican tax cuts, or, arguably worst of all, “Putin’s price hike,” in regard to Russia’s invasion of Ukraine — but, obviously, not at all the fault of profligate spending by Biden and Democrats or the Federal Reserve’s dumping of trillions of new dollars on an already overheated economy.

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