“Biden had the highest inflation in the history of our country by far.”

Cumulative inflation over Biden's presidency was about 21%, less than half the roughly 45% recorded during Jimmy Carter's single term, by the annual averages of the government's own Consumer Price Index. CNN fact-checked this claim from Trump's November 2, 2025 '60 Minutes' interview and found it false on every measure.

The annual-rate version of the claim fails too. Inflation peaked at 9.1% in June 2022 under Biden, a 40-year high, but by annual averages Biden's worst year, 2022, saw 8.0% inflation, against 17.8% in 1917, 17.3% in 1918, 15.6% in 1920 and 13.5% in 1980.

Trump could have accurately said inflation hit a four-decade high under Biden: the 12-month rise of 9.1% in June 2022 was the largest since November 1981. Instead he reached for 'worst in U.S. history,' a claim contradicted by more than a century of Bureau of Labor Statistics data.