The inflation rate was trending down below 2% when President Trump left office.

May’s 8.6% annualized inflation rate, the highest in 40 years, shocked financial markets and alarmed consumers and workers alike. As we’ve been reminded over the years, inflation acts as a tax on everyone, lowering standards of living, rising costs across the board, and eroding the very foundations of a productive economy. And once entrenched, it’s very difficult to get rid of.

How did this happen? And does President Biden deserve the blame? June’s monthly online I&I/TIPP Poll sought to answer those questions, asking 1,310 adults across the country the following question: “In general, how responsible are President Biden’s policies for causing the current inflation?” Of those responding, 64% said Biden was “responsible,” choosing either “very responsible” (38%) or “somewhat responsible” (26%). Just 25% answered “not responsible”, with 17% saying “not very responsible” but a far-smaller 8% saying “not at all responsible.” “Not sure” was 10%.

As reported by The Gateway Pundit
Image source: Rediff