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Wednesday, Sep. 6, 2023

Has inflation dropped to 3% as of mid-2023?

Tom Kertscher, Wisconsin Watch
yes

The Consumer Price Index rose 3.2% in July 2023 compared with a year earlier, according to the latest figures from the U.S. Bureau of Labor Statistics.

The year-over-year increase was 3% in June.

A TV ad for President Joe Biden’s 2024 re-election campaign touts that figure.

The ad is scheduled to air in the battleground states of Wisconsin, Michigan, Georgia, Arizona, Pennsylvania, Nevada and Iowa during the first game of the NFL season on Sept. 7, Axios reported.

Republican presidential candidates criticized Biden for inflation during their first debate, Aug. 23 in Milwaukee.

Inflation trended upward after Biden took office in January 2021 before hitting a peak in June 2022. That month’s 9.1% year-over-year increase was a four-decade high.

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