The Consumer Price Index (CPI) released by the government on Tuesday this week showed an 8.3% year-over-year price increase from August 2021 to August 2022. The CPI edged down from a 40-year high of 9.1% in June to 8.5% in July to 8.3% in August.
The official CPI does not tell the whole story of price increases under President Biden. Bidenflation, measured by the TIPP CPI, using the same underlying data, stood at 12.6% in August. It was 12.6% in July and 12.7% in June.