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Our only agenda is to publish the truth so you can be an informed participant in democracy. We need your help. More Info ### I would like to contribute One Time Monthly Yearly Join Now ![](\\" ![](\\" Mike Gallagher stated on April 12, 2022 in News release: “Inflation has gone up every month of the Biden presidency and just hit another 40-year high.” ![\\"true\\"](\\" mostly-true/4ac7c61540eff5211f6a04d98a6bc93a.jpg.\\") ![\\"mostly- true\\"](\\" true.jpg\\") * National * Economy * Wisconsin * Mike Gallagher ![\\"Customers](\\" Customers shop at a grocery store in Mount Prospect, Ill. Food inflation is taking a toll on family budgets. (AP) By Laura Schulte April 22, 2022 # Yes, inflation is at a 40-year high, and rates have been climbing throughout Biden’s time in office #### If Your Time is short * Economic data shows that inflation has indeed reached its highest point since the early 1980s * The rate of inflation has also steadily increased during Joe Biden’s presidency, aside from a small plateau in mid-2021. See the sources for this fact-check Prices are increasing for everything from gas at the pump to the chicken at the grocery store. That means the reason driving those increases – inflation – has become a major talking point, especially for politicians. And especially for Republicans, who want to pin the blame for rising prices on Democrats and President Joe Biden. U.S. Rep. Mike Gallagher, R-Green Bay, weighed in on the matter, and framed the increases around Biden’s time in office. \"Inflation has gone up every month of the Biden presidency and just hit another 40-year high,\" he said in an April 12, 2022 news release. Is he right? Inflation is indeed high, and has steadily been increasing When asked for more backup for the claim, Gallagher’s office shared a link to an April 10, 2022 article from NBC News, which noted that inflation has risen every month since Biden took office – and that the inflation rate is the highest it’s been in 40 years. His office also shared a link to data from the Bureau of Labor Statistics, showing the Consumer Price Index (which serves as a measure of inflation) for the last 20 years. The graph shows that the index started climbing in April 2020, with a steep increase in January of 2021. That, of course, is when Biden took office. Before we dig deeper, it’s important to note two things. First, economists and experts say inflation is driven by a wide variety of factors, including a surge in demand for services and goods, and consumers who are willing to pay more for them. In this case, it includes supply chain issues prompted by COVID-related problems such as a drop in the production of items such as cars, couches and even gas, according to a Jan. 10, 2022 New York Times article. But inflation can also be driven by consumers spending more money, as people are doing following the stimulus checks received during the coronavirus pandemic. \"The indefatigable shopping is helping to keep price increases brisk,\" the NYT article said. Second, inflation has been creeping up for quite a long time, and continued that trend under former President Donald Trump, just as it has under Biden. As an April 20, 2022 factcheck noted, inflation did increase after Biden took office, especially following the passage of the American Rescue Plan, which included $1,400 payments to every American, $360 billion for state and local governments and $242 billion in expanded unemployment benefits, among other funding. Jim Johannes, an emeritus professor of banking and finance and the director of the Puelicher Center for Banking Education at the University of Wisconsin- Madison, said looking at charts from the Federal Reserve Economic Data (FRED) website shows that the inflation rate is indeed at its highest point in 40 years, sitting at about 8.5% as of March. That is, prices in March 2022 were 8.5% higher than in March 2021. The last time the rate was that high was in 1981. As far as the inflation rate rising every month of Biden’s presidency, Gallagher’s claim deserves an asterisk on that point as well. Here is the breakdown: February 2021: 1.7% March 2021: 2.7% #### Featured Fact-check ![](\\" ![](\\" Social Media stated on July 24, 2024 in in social media posts ABC News reporter said “government tried to kill” former President Donald Trump. ![\\"true\\"](\\" false/33efdb6633e5e2fdc2d4e2f63383a1e0.jpg.\\") ![\\"false\\"](\\" false.jpg\\") By Jeff Cercone • July 26, 2024 April 2021: 4.2% May 2021: 4.9% June 2021: 5.3% July 2021: 5.3% August 2021: 5.2% September 2021: 5.4% October 2021: 6.2% November 2021: 6.8% December 2021: 7.1% January 2022: 7.5% February 2022: 7.9% March 2022: 8.5% According to FRED data, there was a slight plateau between June 2021 and September 2021, but other than that, inflation has indeed increased every month since Biden took office. \"I think the factual statement as in the inflation rate going up every month of the Biden administration, the answer would be, with a slight exception of a few months in 2021, the answer is yes,\" Johannes said. ![](\\" xB-75y_K7OS2VM4VLjxicKFPyj2zuWMHfgxWyJgONqHIhLC7W8Ure3tYluKgyblorgoBTfrbOZYdHtTg- TPYwhu26jkS2wVJGgaljwlgzeoYJrjm\\"/) Our ruling In a news release, Gallagher claimed: \"Inflation has gone up every month of the Biden presidency and just hit another 40-year high.\" Looking at economic data, it’s true that the rate of inflation is the highest it’s been since the 1980s. And inflation has, indeed, been on the rise under Biden – though Gallagher glosses over a slight plateau in mid-2021. What’s more, the increase – which, to be sure, has gotten much steeper – began before Biden was sworn in, under Trump. That leaves us with a claim that is accurate, but needs clarification or additional information. That’s what we call Mostly True. #### Read About Our Process The Principles of the Truth-O-Meter ### Our Sources Mike Gallagher, press release, April 12, 2022 NBC News, \"As Democrats point to strong economy, consumers see inflation,\" April 10, 2022 Bureau of Labor Statistics, 12-month percentage chance, Consumer Price Index, April 20, 2022 New York Times, \"Inflation has arrived. Here’s what you need to know,\" Jan. 10, 2022 PolitiFact, \"Biden’s American Rescue Plan fueled inflation. So did post-COVID shortages,\" April 20, 2022 Phone conversation with Jim Johannes, professor UW-Madison, April 19, 2022 FRED, Consumer price index for all urban consumers, March 1, 2022 FRED, Consumer price index for all urban consumers, March 1, 2022 ## Browse the Truth-O-Meter ### More by Laura Schulte ![](\\" ![](\\" Eric Hovde stated on August 13, 2024 in Public appearance: Says U.S. Sen. Tammy Baldwin “has done absolutely nothing” about the fentanyl crisis. ![\\"false\\"](\\" ![\\"false\\"](\\" By Laura Schulte • August 22, 2024 ![](\\" ![](\\" Van Wanggaard stated on April 15, 2024 in X, formerly Twitter: Says Gov. 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Inflation has gone up every month of the Biden presidency and just hit another 40year high