{"id":1599470,"date":"2022-08-10T15:34:38","date_gmt":"2022-08-10T19:34:38","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1599470"},"modified":"2022-08-10T15:34:49","modified_gmt":"2022-08-10T19:34:49","slug":"biden-says-economy-had-zero-percent-inflation-despite-remaining-near-record-highs-in-july","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-says-economy-had-zero-percent-inflation-despite-remaining-near-record-highs-in-july\/","title":{"rendered":"Biden Says Economy Had \u2018Zero Percent Inflation\u2019 Despite Remaining Near Record Highs in July"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-says-economy-had-zero-percent-inflation-despite-remaining-near-record-highs-in-july%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1599470&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>President <a href=\"https:\/\/www.theepochtimes.com\/t-joe-biden\">Joe Biden<\/a> and other <a href=\"https:\/\/www.theepochtimes.com\/t-white-house\">White House<\/a> officials on Wednesday said a recent report shows the economy had \u201czero percent\u201d inflation in July although the Consumer Price Index showed it remained near historic highs of 8.5 percent year-over-year.<\/p>\n<p>\u201cBefore I begin today, I want to say a word about the news that came out today relative to the economy. Actually, I just want to say a number: zero,\u201d Biden\u00a0said, adding, \u201cToday, we received news that our economy had zero percent inflation in the month of July.\u201d<\/p>\n<p>It\u2019s not clear if Biden meant a \u201czero percent increase,\u201d as the Consumer Price Index dropped from June to July. The Consumer Price Index showed that inflation remained at 8.5 percent in July 2022, dropping from 9.1 percent in June and dropping 0.2 percentage points from May 2022.<\/p>\n<p>Echoing Biden\u2019s comment, White House press secretary Karine Jean-Pierre <a href=\"https:\/\/twitter.com\/PressSec\/status\/1557374758433525761\">wrote on Twitter<\/a>: \u201cWe just received news that our economy had 0 percent\u00a0 inflation in July. While the price of some things went up, the price of others, like gas, clothing, and more, dropped.\u201d<\/p>\n<p>U.S. consumer prices have been surging due to a number of factors, including snarled global supply chains, massive government stimulus early in the COVID-19 pandemic, COVID-19 lockdowns and rules, and the Russia\u2013Ukraine war.<\/p>\n<p>The price of gasoline has also contributed to the price pressures. After rising to over $5 per gallon in June, the price has dropped about $1 to $4.01 per gallon as of Wednesday, <a href=\"https:\/\/gasprices.aaa.com\/\">according<\/a> to AAA data. The $4-per-gallon gas price is still far higher than before Biden took office in January 2021 when it hovered around $2.30 per gallon,\u00a0<a href=\"https:\/\/www.eia.gov\/dnav\/pet\/hist\/LeafHandler.ashx?n=PET&#038;s=EMM_EPMR_PTE_NUS_DPG&#038;f=W\">data from the Energy Information Administration show<\/a>.<\/p>\n<p>\u201cThe all items less food and energy index rose 5.9 percent over the last 12 months,\u201d <a href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\">said<\/a> the official report from the Bureau of Labor<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden and other White House officials on Wednesday said a recent report shows the economy had \u201czero percent\u201d inflation in July although the Consumer Price Index showed it remained near historic highs of 8.5 percent year-over-year. \u201cBefore I begin today, I want to say a word about the news that came out today [\u2026]<\/p>\n","protected":false},"author":58,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1599470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1599470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/58"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1599470"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1599470\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1599470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1599470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1599470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}