President Joe Biden on Monday claimed progress on bringing inflation down, even as the cost of groceries keeps rising.
“We’re seeing hopeful signs of progress on inflation as well,” Biden said, adding that “inflation eased in July.”
Biden spoke about inflation during a speech at Boston’s Logan airport on Monday afternoon. He celebrated falling gas prices but did not mention the rising cost of groceries.
He insisted that Americans should trust him to handle the issue of inflation, calling it his “top economic priority.”
“The American people should have confidence that we’re on the right track, that we’re seeing real progress,” Biden said.
Biden blamed Russia’s war in Ukraine and coronavirus variants for contributing to inflation, ignoring the multitrillions of dollars in government spending passed by Democrats.
Inflation at the grocery store continues to rise as families are paying 13.1 percent more for groceries than they were a year ago, according to the latest numbers, reported in July.
Prices for groceries were also up 1.3 percent compared with a month earlier, showing that Biden has failed to make any significant progress on the issue.
“We’ve worked to make sure our economy recovers, to lower costs for families,” he said.
The numbers for August are expected to be released on Tuesday, and estimates show that food price inflation is expected to remain elevated.
Biden, however, is trying to make the case that he is taking the issue seriously, planning a White House celebration on Tuesday of his recently signed multibillion-dollar green energy, climate, and health care bill dubbed the “Inflation Reduction Act.”