Via NY Post:

President Biden tried to claim Wednesday that the US had “zero inflation” in July hours after federal Consumer Price Index data showed annual inflation dipping only slightly to 8.5%, which outraged Republicans and other critics who pointed out it’s still near a four-decade high.

The latest figures reflected a demand-driven decline in fuel prices — including gasoline, which hit a record national average of $5 per gallon in mid-June before sliding to a still-high $4 average today — that offset increases in the cost of food, rent and other goods and services.

“I just want to say a number: zero,” Biden said in the White House East Room before signing legislation granting greater medical and disability benefits to veterans suffering illnesses linked to inhaling toxic smoke.

“Today, we received news that our economy had 0% inflation in the month of July — 0%,” Biden said. “Here’s what that means: while the price of some things go up — went up last month, the price of other things went down by the same amount. The result? Zero inflation last month.