President Biden repeated a claim Thursday that inflation rates in the United States are lower than they are abroad.
“America is better positioned to lead the world than we ever have been,” he said at a press conference at NATO summit in Madrid. “We have the strongest economy in the world, our inflation rates are lower than other nations in the world.”
The claim is a repeat of one he made earlier this month when he said in an interview with the Associated Press that inflation is higher “in every major industrial country” compared to the the United States
Data from Trading Economics, however, paint a different picture, showing the United States with a higher inflation rate in May of 2022 than most of the other 20 largest economies in the world.
These data show only the Netherlands, U.K., Spain, Brazil, Russia, Argentina and Turkey are experiencing faster increases in the cost of living than the United States.