When CBS interviewer Scott Pelley highlighted the abysmal state of the economy and noted that “people are shocked by their grocery bills,” Biden sputtered that the “inflation rate month to month was up just an inch, hardly at all.” …

It’s worth clarifying what Biden is trying to claim here. The inflation rate clocked in at 8.3 percent in August, after registering at 8.5 percent in July and 9.1 percent in June. When the president says inflation “hasn’t spiked” and has “been basically even,” he’s talking about these fractional changes — and he’s hoping you don’t know what they mean and that his lapdogs in the corporate media won’t explain them to you. …

Let’s start with breakfast, as you do. In September 2018, bacon cost $5.50 per pound, according to BLS averages. Today, those delicious piggy strips will run you about $7.99 per pound for your run-of-the-mill brand. That’s a 45 percent price jump, almost all of which occurred after Biden took office.

Milk is even worse. In 2018, one gallon of whole milk cost $2.98. Now, the grocery store’s off-brand milk costs $4.89, a price increase of almost 70 percent.