Biden Claims ‘We’re on the Right Track’ in Tackling Inflation Even as Prices Soar

President Joe Biden has touted the progress that is being made to bring down soaring inflation across the United States, despite the cost of living continuing to burden American households.

Biden made the comments during a speech at Boston’s Logan Airport in Massachusetts on the afternoon of Sept. 12, where he said his administration was optimistic that the country was “on the right track” when it comes to tackling inflation.

“We’re seeing hopeful signs of progress on inflation,” Biden said. “The price of gas, when we said not—what I was doing wouldn’t make any difference—well, guess what? It’s down $1.30 since the start of the summer and continues to go down.”

“Inflation eased in July,” he continued. “I said last spring that our top economic priority was to bring down inflation without giving up on all the gains American workers made in the last year. But there’s more to do—a lot more to do. The American people should have confidence that we are on the right track, that we’re seeing real progress.”

Biden’s comments come as inflation reached 8.5 percent year over year in July, while food prices have risen 10.9 percent year over year, the fastest rate since the 1970s, according to data from the Bureau of Labor Statistics.

Meanwhile, the food at home index rose 13.1 percent over the last 12 months. Gasoline prices fell 7.7 percent in July but are still up 44 percent year over year.

Households Struggling

Official data for August will be published on Tuesday and will show whether inflation rose again last month or remained steady. Experts predict data to show that inflation declined by just over 1 percent.

Meanwhile, a Gallup poll published earlier this month found that the majority of Americans are struggling with financial hardship owing to rising inflation.

The poll found that 56 percent of Americans say price

*As an Amazon Associate I earn from qualifying purchases