{"id":1599701,"date":"2022-08-10T17:08:49","date_gmt":"2022-08-10T21:08:49","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1599701"},"modified":"2022-08-10T17:09:00","modified_gmt":"2022-08-10T21:09:00","slug":"us-inflation-up-8-5-in-july-year-over-year-yet-biden-claims-its-at-0","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-inflation-up-8-5-in-july-year-over-year-yet-biden-claims-its-at-0\/","title":{"rendered":"US inflation up 8.5% in July year-over-year, yet Biden claims it\u2019s at 0%"},"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\">26<\/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%2Fus-inflation-up-8-5-in-july-year-over-year-yet-biden-claims-its-at-0%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=1599701&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--><div id=\"attachment_2721202\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-2721202\" class=\"size-full wp-image-2721202\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/06\/AP22152721067430.jpg\" alt=\"President Joe Biden listens as he meets virtually with infant formula manufacturers from the South Court Auditorium on the White House complex in Washington, Wednesday, June 1, 2022. (AP Photo\/Susan Walsh)\" width=\"1024\" height=\"683\" srcset=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/06\/AP22152721067430.jpg 1024w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/06\/AP22152721067430-315x210-1.jpg 315w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/06\/AP22152721067430-655x437-1.jpg 655w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/06\/AP22152721067430-768x512-1.jpg 768w\" \/><\/p>\n<p id=\"caption-attachment-2721202\" class=\"wp-caption-text\">President Joe Biden listens as he meets virtually with infant formula manufacturers from the South Court Auditorium on the White House complex in Washington, Wednesday, June 1, 2022. (AP Photo\/Susan Walsh)<\/p>\n<\/div>\n<h5>OAN Newsroom<br \/>UPDATED 1:54 PM PT \u2013 Wednesday, August 10, 2022<\/h5>\n<p>The Consumer Price Index report for July shows inflation is up 8.5 percent from a year ago. The Labor Department released the report Wednesday, indicating inflation cooled down from 9.1 percent in June.<\/p>\n<p>The CPI measures a range of prices for a typical basket of goods, excluding food and energy because those prices are more unstable. The report suggests inflation still remains near its highest levels in more than 40-years. The Federal Reserve has signaled it will continue to raise interest rates, while many economists say the US is in a recession.<\/p>\n<p>Meanwhile, Biden claims the US inflation rate is zero as he tries to promote his failed \u201cborrow and spend\u201d policies. While talking to reporters at the White House Wednesday, he cited month-on-month inflation data and then claimed his economic plan \u201cis working.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Ridiculous BS from the White House. <\/p>\n<p>There\u2019s 8.5% inflation and basically everything anyone ever buys went up in price. <\/p>\n<p>This is just cruel gaslighting from the Biden admin. <a href=\"https:\/\/t.co\/zbwGOE04XD\">https:\/\/t.co\/zbwGOE04XD<\/a> <a href=\"https:\/\/t.co\/pejS2fAdsp\">pic.twitter.com\/pejS2fAdsp<\/a><\/p>\n<p>\u2014 Ted Cruz (@tedcruz) <a href=\"https:\/\/twitter.com\/tedcruz\/status\/1557390243359326210?ref_src=twsrc%5Etfw\">August 10, 2022<\/a><\/p>\n<\/blockquote>\n<p>Although core inflation slowed from 9.1 percent in June, economists say the crisis continues.<\/p>\n<blockquote>\n<p><strong>\u201cThe real issue though is core inflation has been moving up,\u201d stated Gary Schlossberg, Global Strategy at Wells Fargo Investment Institute. \u201cWe do think as the recessions deepens around the turn of the year in 2023, that does create a headwind for that the core rate though and we do see that core rate coming off.\u201d<\/strong><\/p>\n<\/blockquote>\n<p>Experts also said inflation is slowing because of a decline in economic activity amid ongoing recession. However, contrary to Biden\u2019s claims, the inflation rate still remains very high.<\/p>\n<p>Former Clinton-era Treasury Secretary Larry Summers is also warning against attempts to downplay the inflation crisis. In an interview Wednesday, he said the Labor Department\u2019s latest measure of inflation is encouraging, but risks of a broader economic crisis are still very high.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Former Clinton Treasury Sec. Larry Summers: \u201cWe have a very serious inflation problem&#8221;<\/p>\n<p>\u201cWe\u2019re likely to have some quite turbulent times ahead\u201d <a href=\"https:\/\/t.co\/luFbaIXHiW\">pic.twitter.com\/luFbaIXHiW<\/a><\/p>\n<p>\u2014 RNC Research (@RNCResearch) <a href=\"https:\/\/twitter.com\/RNCResearch\/status\/1557417090176385025?ref_src=twsrc%5Etfw\">August 10, 2022<\/a><\/p>\n<\/blockquote>\n<p>Despite Biden\u2019s claim of zero inflation, Summers said a number of macro-economic indicators is pointing to structural problems that may get worse \u201cwith a horizon of two years.\u201d<\/p>\n<h4>MORE NEWS:\u00a0<a href=\"https:\/\/www.oann.com\/twitter-suspends-investigative-journalists-account-following-criticism-of-mar-a-lago-raid\/\">Twitter Suspends Investigative Journalist\u2019s Account Following Criticism Of Mar-A-Lago Raid<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden listens as he meets virtually with infant formula manufacturers from the South Court Auditorium on the White House complex in Washington, Wednesday, June 1, 2022. (AP Photo\/Susan Walsh) OAN NewsroomUPDATED 1:54 PM PT \u2013 Wednesday, August 10, 2022 The Consumer Price Index report for July shows inflation is up 8.5 percent from &hellip;<\/p>\n","protected":false},"author":79,"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-1599701","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\/1599701","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\/79"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1599701"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1599701\/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=1599701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1599701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1599701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}