Reporter Fact-Checks Biden’s Claim That Inflation Is Up ‘Hardly At All’

Prices at grocery stores are higher for Americans than President Joe Biden would like to admit.
WASHINGTON, DC - SEPTEMBER 23: U.S. President Joe Biden speaks during a Democratic National Committee event at the headquarters of the National Education Association on September 23, 2022 in Washington, DC. The president urged supporters to vote in the upcoming midterm elections this November. (Photo by Samuel Corum/Getty Images)

At a glance

  • In a recent “60 Minutes” interview, President Joe Biden claimed that the “inflation rate month to month was up just an inch, hardly at all.”
  • Cross-referencing current grocery prices on a personal shopping trip to the store, with data from the U.S. Bureau of Labor Statistics during the 2018 midterms, reveals a very different reality for Americans.
  • In September 2018, bacon cost $5.50 per pound, but today costs about $7.99 per pound – an increase of 45 percent.
  • Egg prices are up by 112 percent, costing Americans $3.49 for one dozen, compared to $1.65 four years ago.
  • The price of flour has increased by 70 percent (47 cents per pound in 2018 and now, 80 cents per pound), and chicken breast prices are up by 72 percent (previously $2.90 per pound and now, $4.99 per pound).

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