Under Joe Biden, is inflation coming down or are prices much higher? Signs point to both

If you’ve been listening to the political rhetoric about inflation, you might assume that Democrats and Republicans are on different planets — and that one of the sides isn’t telling the truth.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.AdvertisementDuring a July 28 visit to Maine, Biden said that inflation is “down from 9% to 3%.”AdvertisementTwo days later, Christie said on CNN’s State of the Union that “everything is 17% more expensive today than it was when he took the oath of office.”Breaking NewsGet the latest breaking news from North Texas and beyond.There’s no doubt that inflation has been high under Biden. It hit four-decade highs last summer, with economists blaming post-pandemic supply-chain problems, exacerbated by high federal aid to Americans, which bolstered demand for products and services when supply was still recovering.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.Advertisement“Both are fair, and both are correct,” said Douglas Holtz-Eakin, president of the American Action Forum, a center-right think tank.What Biden saidBiden’s statement is based on how much inflation has changed year over year. This is a common data point …

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