In a recent speech, former President Donald Trump made a false claim regarding the level of inflation experienced during the Biden administration. Trump asserted that the US had seen 'record inflation,' which is not entirely accurate.
While it is true that the US inflation rate reached a 40-year high in June 2022, hitting 9.1%, it is important to note that this figure falls short of the all-time record of 23.7% set back in 1920. Furthermore, the inflation rate has since decreased significantly, with the most recent available data showing a rate of 2.9% in December.
