Here are the year over year data on wages and inflation looking back to when Biden started and from one year ago:
Jan ’21: wages up 5.3%, inflation up 1.4% —
Nov ’21: wages up 5.3%, inflation up 6.8% – wages the same, inflation goes up, real wages are down —
Nov ’22: wages up 5.1%, inflation up 7.1% – wages drop, inflation goes up, real wages are down—
Biden is correct that inflation is easing but he’s looking at a very small sample set of data. It’s a little early for spiking the ball.
Here are the year over year data on wages and inflation looking back to when Biden started and from one year ago:
Jan ’21: wages up 5.3%, inflation up 1.4% —
Nov ’21: wages up 5.3%, inflation up 6.8% – wages the same, inflation goes up, real wages are down —
Nov ’22: wages up 5.1%, inflation up 7.1% – wages drop, inflation goes up, real wages are down—
Biden is correct that inflation is easing but he’s looking at a very small sample set of data. It’s a little early for spiking the ball.