Fact-checking Trump’s claim about Biden-era inflation.
Trump said, “We’ve had the worst inflation we’ve ever had, under this person (Biden).”
Although inflation is still considered an economic problem for the U.S., the overall rate is nowhere near a record.
The highest inflation rates were recorded in the 1970s and early 1980s, when the annual price increase sometimes hovered between 12% and 15%. The highest rate on Biden’s watch was around 9% in summer 2022. That was the highest monthly figure in about four decades, but not the highest ever.
Inflation is down to around 3% now, about two-thirds lower than its 2022 peak.
—PolitiFact’s Louis Jacobson