Despite coming to opposite conclusions, President Joe Biden and Republican presidential candidate Chris Christie both have a point about inflation. Here's how that works.
Consider dueling comments in recent days by President Joe Biden and former New Jersey Gov. Chris Christie, who is running for the Republican presidential nomination.Two days later, Christieon CNN’s"State of the Union" that"everything is 17% more expensive today than it was when he took the oath of office."
As it turns out, both Biden and Christie are right — they are just using two different statistical approaches to make their argument. Biden emphasized inflation’s decline, while Christie focused on inflation’s lingering effects. According to this year-over-year measurement, inflation was under 2% when Biden was inaugurated in January 2021. It then rose dramatically, peaking at about 9% in June 2022. In June 2023, it fell to about 3%.
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