Joe Biden is celebrating the latest inflation numbers.
According to the Daily Mail, The US inflation rate dropped again in August to 8.3 percent, but remains near a four-decade high even as President Joe Biden claims he is making progress.
In Tuesday’s consumer price index report, the Commerce Department reported a drop from the 40-year high of 9.1 percent in June and 8.5 percent in July – but the numbers were hotter than anticipated, and Wall Street opened sharply lower.
Gas prices fell 10.6 percent in August, leading to a retreat in inflation figures, though pump prices remained about 25 percent higher than they were a year ago.
Despite the steady drop in gasoline prices from their June peak, food and housing costs continue to strain family budgets.
Meanwhile, as noted by Townhall, Joe Biden attempted to spin the new and horrendous inflation numbers as “progress.”
“Today’s data show more progress in bringing global inflation down in the US economy. Overall, prices have been essentially flat in our country these last two months: that is welcome news for American families, with more work still to do,” Biden released in a statement Tuesday morning.
In response, Republicans are calling out the Biden admin for their terrible effort of trying to spin the numbers.
Tennessee Senator Marsha Blackburn tweeted, “Only the Biden administration would celebrate 8.3% inflation as a win.”
Ben Shapiro said, “Markets were betting on 8.1% inflation. The new stat is 8.3%. The Fed’s attempts to lukewarm this thing — gradually increase interest rates to prevent inflation but avoid recession — is too little too late. They’re going to have to slam the brakes.”
Representative Mike Loychik tweeted, “Joe Biden’s inflation has given American workers a pay cut for 17 consecutive months.”
Here’s just a few examples of how the Biden admin lied about inflation for the past year to the American people, courtesy of the Republican National Committee.