President Joe Biden (D) claimed, as a result of the latest inflation report, that food prices are falling.
The BLS, however, actually said this:
The food index increased 0.3 percent over the month [of December] with the food at home index rising 0.2 percent[.]
BLS data shows the “food at home” index rose 0.2% in December and 11.8% in the past year. Food away from home rose 0.4% in December and 8.3% in the last year.
“The index for cereals and bakery products rose 16.1 percent over the year. The remaining major grocery store food groups posted increases ranging from 7.7 percent (meats, poultry, fish, and eggs) to 15.3 percent (dairy and related products)[.]”
Meats, poultry, fish, and eggs rose 1% in December and 7.7% in the last year. Dairy and related products prices declined 0.3% in December but rose 15.3% in the last year. Fruits and vegetable prices declined 0.6% in December but rose 8.4% in the last year. Nonalcoholic beverages and beverage materials prices rose 0.1% in December and 12.4% in the last year. BLS’ “other food at home” category saw a 0.4% increase in December and a 13.9% increase in the last year.
When that flood of data came out, Biden reclamaed, and acknowledged in a speech Thursday that food prices did rise in December, but lauded the slower increase.
Some will insist that the dichotomy between Biden’s initial claim and reality is further evidence of his decline. Politicians of the Progressive-Democratic Party and their Leftist supporters will insist he’s in full possession of his faculties (perhaps harkening back to his faculty status at UPENN [/snark]).
Taking the Progressive-Democrats and the Left at their word, though, would mean that Biden is openly lying about food inflation.