Reading Time: < 1 minute

Wisconsin Watch partners with Gigafact to produce fact briefs — bite-sized fact checks of trending claims. Read our methodology to learn how we check claims.

Yes.

The Consumer Price Index rose 3.2% in July 2023 compared with a year earlier, according to the latest figures from the U.S. Bureau of Labor Statistics.

The year-over-year increase was 3% in June.

A TV ad for President Joe Biden’s 2024 re-election campaign touts that figure.

The ad is scheduled to air in the battleground states of Wisconsin, Michigan, Georgia, Arizona, Pennsylvania, Nevada and Iowa during the first game of the NFL season on Sept. 7, Axios reported.

Republican presidential candidates criticized Biden for inflation during their first debate, Aug. 23 in Milwaukee.

Inflation trended upward after Biden took office in January 2021 before hitting a peak in June 2022. That month’s 9.1% year-over-year increase was a four-decade high.

This Fact Brief is responsive to conversations such as this one.

Sources

U.S. Bureau of Labor Statistics: Consumer Price Index News Release Aug. 10, 2023

U.S. Bureau of Labor Statistics: Consumer Price Index News Release July 12, 2023

Joe Biden: Got to Work 30s

Axios: Biden to air new ad during NFL kickoff

U.S. Bureau of Labor Statistics: 12-month percentage change, Consumer Price Index, selected categories

The Hill: Republican candidates hit Biden on inflation, immigration at debate

PBS: U.S. inflation at 9.1 percent, a record high

U.S. Bureau of Labor Statistics: Consumer Price Index News Release July 13, 2022

Have COVID-19 vaccines contributed to as many as 3.9 million deaths?

Did Wisconsin have a ban on building new nuclear power plants before 2016?

Submit a tip!

Claims that are partially true or false cannot be checked. In addition, we are unable to check claims for which there are no credible, available sources to verify or dispute them.

Republish our articles for free, online or in print, under a Creative Commons license.

Republish this article

This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License.

Scroll down to copy and paste the code of our article into your CMS. The codes for images, graphics and other embeddable elements may not transfer exactly as they appear on our site. *** Also, the code below will NOT copy the featured image on the page. You are welcome to download the main image as a separate element for publication with this story. *** You are welcome to republish our articles for free using the following ground rules.

Credit should be given, in this format: “By Dee J. Hall, Wisconsin Watch”
Editing material is prohibited, except to reflect relative changes in time, location and in-house style (for example, using “Waunakee, Wis.” instead of “Waunakee” or changing “yesterday” to “last week”)
Other than minor cosmetic and font changes, you may not change the structural appearance or visual format of a story.
If published online, you must include the links and link to wisconsinwatch.org
If you share the story on social media, please mention @wisconsinwatch (Twitter, Facebook and Instagram), and ensure that the original featured image associated with the story is visible on the social media post.
Don’t sell the story or any part of it — it may not be marketed as a product.
Don’t extract, store or resell Wisconsin Watch content as a database.
Don’t sell ads against the story. But you can publish it with pre-sold ads.
Your website must include a prominent way to contact you.
Additional elements that are packaged with our story must be labeled.
Users can republish our photos, illustrations, graphics and multimedia elements ONLY with stories with which they originally appeared. You may not separate multimedia elements for standalone use.
If we send you a request to change or remove Wisconsin Watch content from your site, you must agree to do so immediately.

For questions regarding republishing rules please contact Jeff Bauer, digital editor and producer, at jbauer@wisconsinwatch.org

Has inflation dropped to 3% as of mid-2023?

by Tom Kertscher / Wisconsin Watch, Wisconsin Watch
September 7, 2023

<h1>Has inflation dropped to 3% as of mid-2023?</h1>
<p class="byline">by Tom Kertscher / Wisconsin Watch, Wisconsin Watch <br />September 7, 2023</p>
<br />
<h2 class="wp-block-heading">Yes.</h2>
<p>The Consumer Price Index rose 3.2% in July 2023 compared with a year earlier, according to the latest figures from the U.S. Bureau of Labor Statistics.</p>
<p>The year-over-year increase was 3% in June.</p>
<p>A TV ad for President Joe Biden’s 2024 re-election campaign touts that figure.</p>
<p>The ad is scheduled to air in the battleground states of Wisconsin, Michigan, Georgia, Arizona, Pennsylvania, Nevada and Iowa during the first game of the NFL season on Sept. 7, Axios reported.</p>
<p>Republican presidential candidates criticized Biden for inflation during their first debate, Aug. 23 in Milwaukee.</p>
<p>Inflation trended upward after Biden took office in January 2021 before hitting a peak in June 2022. That month’s 9.1% year-over-year increase was a four-decade high.</p>
<p><em>This Fact Brief is responsive to conversations such as <a href="https://www.youtube.com/watch?v=4kQeaxMUsjg" target="_blank" rel="noreferrer noopener">this one</a>.</em></p>
<p><strong>Sources</strong></p>
<p>U.S. Bureau of Labor Statistics: <a href="https://www.bls.gov/news.release/cpi.htm" target="_blank" rel="noreferrer noopener">Consumer Price Index News Release Aug. 10, 2023</a></p>
<p>U.S. Bureau of Labor Statistics: <a href="https://www.bls.gov/news.release/archives/cpi_07122023.htm" target="_blank" rel="noreferrer noopener">Consumer Price Index News Release July 12, 2023</a></p>
<p>Joe Biden: <a href="https://www.youtube.com/watch?v=4kQeaxMUsjg" target="_blank" rel="noreferrer noopener">Got to Work 30s</a></p>
<p>Axios: <a href="https://www.axios.com/newsletters/axios-am-f3dad246-d931-42b4-8d05-7c9cfeee991d.html?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=newsletter_axiosam&amp;stream=top" target="_blank" rel="noreferrer noopener">Biden to air new ad during NFL kickoff</a></p>
<p>U.S. Bureau of Labor Statistics: <a href="https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-category-line-chart.htm" target="_blank" rel="noreferrer noopener">12-month percentage change, Consumer Price Index, selected categories</a></p>
<p>The Hill: <a href="https://thehill.com/homenews/campaign/4168407-republican-candidates-hit-biden-on-inflation-immigration-at-debate/" target="_blank" rel="noreferrer noopener">Republican candidates hit Biden on inflation, immigration at debate</a></p>
<p>PBS: <a href="https://www.pbs.org/newshour/economy/u-s-inflation-at-9-1-percent-a-record-high" target="_blank" rel="noreferrer noopener">U.S. inflation at 9.1 percent, a record high</a></p>
<p>U.S. Bureau of Labor Statistics: <a href="https://www.bls.gov/news.release/archives/cpi_07132022.htm" target="_blank" rel="noreferrer noopener">Consumer Price Index News Release July 13, 2022</a></p>
<p>This &lt;a target=&quot;_blank&quot; href=&quot;https://wisconsinwatch.org/2023/09/has-inflation-dropped-to-3-as-of-mid-2023/&quot;&gt;article&lt;/a&gt; first appeared on &lt;a target=&quot;_blank&quot; href=&quot;https://wisconsinwatch.org&quot;&gt;Wisconsin Watch&lt;/a&gt; and is republished here under a &lt;a target=&quot;_blank&quot; href=&quot;https://creativecommons.org/licenses/by-nd/4.0/&quot;&gt;Creative Commons Attribution-NoDerivatives 4.0 International License&lt;/a&gt;.&lt;img src=&quot;https://i0.wp.com/wisconsinwatch.org/wp-content/uploads/2021/02/cropped-WCIJ_IconOnly_FullColor_RGB-1.png?fit=150%2C150&amp;amp;quality=100&amp;amp;ssl=1&quot; style=&quot;width:1em;height:1em;margin-left:10px;&quot;&gt;</p>
&lt;img id=&quot;republication-tracker-tool-source&quot; src=&quot;https://wisconsinwatch.org/?republication-pixel=true&amp;post=1282184&amp;amp;ga4=G-D2S69Y9TDB&quot; style=&quot;width:1px;height:1px;&quot;&gt;&lt;script&gt; PARSELY = { autotrack: false, onload: function() { PARSELY.beacon.trackPageView({ url: &quot;https://wisconsinwatch.org/2023/09/has-inflation-dropped-to-3-as-of-mid-2023/&quot;, urlref: window.location.href }); } } &lt;/script&gt; &lt;script id=&quot;parsely-cfg&quot; src=&quot;//cdn.parsely.com/keys/wisconsinwatch.org/p.js&quot;&gt;&lt;/script&gt;

Has inflation dropped to 3% as of mid-2023?

Yes.

Have COVID-19 vaccines contributed to as many as 3.9 million deaths?

Did Wisconsin have a ban on building new nuclear power plants before 2016?

Latest stories

The Democratic field for Wisconsin governor has been static for months. That could all change this week.

Riding an ATV/UTV in Wisconsin? Buckle up, with updated laws

Nealita Nelson is building community one Lego brick at a time

Tom Kertscher / Wisconsin WatchReporter

Our newsletters: