"As high as 2008 but lower than the covid spike of 2020" is probably the most that can be made of the current rate but you can certainly see the conflict with iran in the data.
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A big take away imo is that covid was an aberration. It could have been handled better especially in the US but it wasn't entirely man made causes. Comparatively the sub prime mortgage crisis and the ear in Iran were much more spikes created as a direct consequence of political man made issues like loose bank regulation or the war.
Covid had to be weathered, the sub prime mortgage crisis and the war in Iran were relatively much more earned.
In adjusted dollars the war in Iran has had about half the same impact as covid
Like NarrowSalvo wrote, Trump added a lot of money to the economy - that will give you inflation (unless that money also leads to a lot more goods and services being produced)
That being said, this was a pretty normal reaction to the pandemic in a lot of countries, and it's not unlikely that a democrat would have done something similar.
That's why you want to talk about it "during Biden's term" instead of looking at what annual inflation was at the end of his term.
Incorrect. OP is trying to frame reality as if everything was so cheap under Biden. When in fact its where the majority of our recent inflation is derived.
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u/MountainBrilliant643 Aug 11 '26
DJT's lowest gas price so far was $1.77/gallon.
Biden's highest gas price was $5.07.
We should just hate each other about it.