During his latest "My Take," "Varney & Co." host Stuart Varney discusses Biden claiming that there was zero inflation in July, arguing Americans are "getting worse off" despite what the president says about it.
STUART VARNEY: In the financial world, inflation is a cold calculation.
How will price hikes affect profits? There's a lot of number crunching, not much emotion.
For the rest of us, inflation is anything but a cold calculation: it’s real.
You feel it. And you feel it every day. And you react to it by changing your habits. It’s that personal.
This is why inflation remains the most important political issue.
It’s why President Biden went out of his way to say there was "zero" inflation in July.
He knows that’s not strictly accurate.
He knows inflation remains at high levels, but he doesn't want to admit that to voters three months before an election.
Here's what a trip to the grocery store looks like these days...
Eggs, margarine, flour, coffee, soups, chicken, lunch meat, cereals, snacks. You name it, and the price has gone up... A lot!
Anything from 16, 19, 20, 30 percent higher.
It comes home to you at the checkout. That’s when you feel it. And that’s when it becomes a political issue.
We know we're getting worse off. No matter what the president says.