As we reported earlier, inflation has dropped a little with the most recent number. It was up 9.1 percent last month and this month, and this month it’s up 8.5 percent.

Likely a major part of that is the drop in gas prices.

So an accurate description of what occurred would run something like what Grabien’s Tom Elliott says here — that we’re still being incredibly crushed by inflation and there are still troubling indicators.

A real media outlet would report: "America's inflation crisis continued punishing American consumers in July, with the CPI remaining 17 percent and the government's figure holding steady at 8.5 percent"

— Tom Elliott (@tomselliott) August 10, 2022

But you know that some in the liberal media are already trying to spin it as a “win” somehow for Joe Biden.

When you look at these numbers, you should not be taking a victory lap.

Price increases over last year (CPI report)…
Fuel Oil: +75.6%
Gasoline: +44.0%
Gas Utilities: +30.5%
Electricity: +15.2%
Food at home: +13.1%
New Cars: +10.4%
Transportation: +9.2%
Overall CPI: +8.5%
Food away from home: 7.6%
Used Cars: +6.6%
Shelter: +5.7%
Medical Care: +5.1%

— Charlie Bilello (@charliebilello) August 10, 2022

But Joe Biden is not only taking a victory lap, he’s descending into complete falsehood with what he’s saying about the inflation number now. He and his team are claiming there was “zero inflation” just because it didn’t go up as much as it went up last month.

BIDEN: "Today we received news that our economy had 0% inflation in the month of July." pic.twitter.com/RV2cfEOaOO

— Townhall.com (@townhallcom) August 10, 2022

Talk about complete gaslighting. Heck, even gaslighting is too kind — it’s just a straight-up lie. Doing that when people know it’s a lie and when they can feel it in their wallets not only isn’t going to help them, it’s only going to tick off people all the more.

He claimed that the inflation number “underscores the kind of economy we’ve been building.” Yes, if you mean a messed up economy that still is crushing people — you did that.

It wasn’t just a slip by frequently confused Joe Biden — it’s now an unconscionable new talking point, with both White House Press Secretary Karine Jean-Pierre echoing the false claim and White House Chief of Staff Ron Klain going on a retweet storm of any posts that spread the lie.

This is like how they told us we should be celebrating a drop in gas prices, despite the prices still being far more than it was when Biden came in. We’re just supposed to suspend all reality and swallow whatever they say.

Ok, this is even worse than I imagined it would be. Biden actually implies that inflation is gone! Every convention forever is that these are calculated year over year. Eye roll. https://t.co/EB97KJhef9 pic.twitter.com/62dogncNuj

— Jeffrey A Tucker (@jeffreyatucker) August 10, 2022

They changed the definition of recession, now they’re trying to redefine what inflation means. They have no shame.