Trump Blasts Biden Over Soaring Prices, Says True Inflation Rate Is ‘Much, Much Higher’ Than 9.1 Percent

Former President Donald Trump seared President Joe Biden over his handling of the inflationary wave hammering American households, telling rally-goers in Arizona, that the true rate of inflation is far higher than the official rate of 9.1 percent.

Trump made the remarks at a Friday rally in Prescott Valley, where the former president was stumping on behalf of former TV anchor Kari Lake in her bid to become Arizona’s next governor in the upcoming GOP primary election.

During his speech, Trump touted his own record on the economy, including high job creation and low inflation.

Former President Donald Trump gestures at a rally in Prescott Valley, Ariz., on July 22, 2022. (Mario Tama/Getty Images) ‘The Worst Inflation’

Trump told rally-goers that under his tenure, “we had the greatest economy in the history of the world with no inflation,” while adding that “Biden created the worst inflation in 47 years.”

February 2017, the first full month of Trump in office, saw the headline Consumer Price Index (CPI) inflation gauge at 2.8 percent in annual terms. While the CPI measure fluctuated during his tenure, the highest it ever reached was 2.9 percent in July 2018, while in his final month in office, January 2021, inflation clocked in at 1.4 percent.

Inflation has climbed steadily under Biden, soaring 9.1 percent year-over-year in June 2022, a figure not seen in over 40 years.

Commerce Secretary Gina Raimondo told CBS News’ “Face the Nation,” on July 24, that inflation in the United States has “probably” peaked, while acknowledging that factors “out of our control” like another war or pandemic could once again cause price growth to accelerate.

President Joe Biden waves as he walks to Marine One on the South Lawn of the White House on July 20, 2022. (Drew Angerer/Getty Images) ‘War on