President Joe Biden touted his economic record and decreasing inflationduring a speech in Milwaukee, Wisconsin, on Tuesday even as millions of Americans pay hundreds more for basic goods and services than two years ago.
Biden pointed to lower inflation even as a new report said that Americans paid $709 more dollars for basic goods and services in July 2023 than they did in July 2021, which was just months into Biden’s time in office. The spending was also $202 dollars more than July 2022, according to Mark Zandi, the chief economic analyst for Moody’s Analytics.
“In case you haven’t noticed, inflation is down, too — and it’s going lower,” Biden said during his Tuesday speech. The speech took place as Biden promoted his “Bidenomics” vision in Wisconsin, which will be a key 2024 battleground state in the race for the presidency.
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