President Biden made a dubious claim on X this week that was immediately fact-checked by Community Notes; “Let me be clear to any corporation that hasn’t brought their prices back down even as inflation has come down: It’s time to stop the price gouging. Give American consumers a break,” Biden said.
Community Notes pounced on the post, saying “As long as the inflation rate is positive, prices are increasing. The fact that inflation has come down to 3.2% in October means that prices are still going up, albeit at a slower rate than before.”
Community Notes also provided four articles to provide context for social media users; it’s currently rated “helpful.”
Currently, inflation sits at 3.2% (the Fed’s ideal is 2%).
Let me be clear to any corporation that hasn’t brought their prices back down even as inflation has come down: It’s time to stop the price gouging.
Give American consumers a break.
— Joe Biden (@JoeBiden) November 30, 2023