Vice President Harris celebrated a streak of 12 months of declining inflation before the recent release of the Consumer Price Index (CPI) report, which revealed a rise in prices during the summer. In an August 4th post on X, she stated, “Inflation has fallen for 12 consecutive months.” Despite Harris’s efforts to address economic concerns and garner voter approval for the upcoming 2024 election, the CPI report from Thursday showed a 3.2% increase in inflation in July compared to the previous year.
Additionally, the report indicated a 0.2% increase in the price of consumer goods from June. President Biden, while promoting his economic policies known as “Bidenomics,” claims to be reducing costs, curbing inflation, and creating new jobs. However, economic experts remain worried about the current state of the economy. Forbes Media Chairman Steve Forbes questioned the reality of Biden’s claims, remarking, “What kind of world does he think he’s living in?” Forbes emphasized that inflation rates remain twice as high as they were when Biden took office, and the prices of goods and people’s credit card debt are still at record highs.
Robert Frick, a corporate economist at Navy Federal Credit Union, expressed concern that inflation is likely to persist for a substantial period, possibly into next year. He warned that lower-income Americans are particularly feeling the pressure and cautioned against assuming that stalling inflation indicates an overall improvement in the economy.
A recent poll by the Monmouth University Polling Institute revealed that Biden’s rebranding of his economic policies as “Bidenomics” has not convinced the public that significant improvements have occurred in key economic aspects. The poll reflects the public’s skepticism towards the economy under Biden, with 60% of respondents indicating their disapproval.
Amid these ongoing economic concerns, Harris’s office did not respond to Fox News Digital’s request for comment. According to a June poll conducted by Fox News, a majority of respondents, 60%, expressed disapproval of the state of the economy under Biden’s administration.
This content was written by Joe Schoffstall, a politics producer/reporter for Fox News Digital. For story tips, reach out to [email protected] or follow him on Twitter: @joeschoffstall.
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