An evidence-free meme shared by Eric Trump that purports to compare inflation rates from 2017 to 2022 — under former President Donald Trump and President Joe Biden — significantly exaggerates the recent spike in consumer prices. Let’s take a look at the facts.
Figures published in a USA Today graphic show the accurate rates of inflation from 2017 through March 2022, calculated by both monthly averages and year-end rates.
NewsLit takeaway
NewsLit takeaway: Viral rumors about rising costs strike a quick emotional chord with many people, often resonating with real concerns about household finances. This meme might also “feel true” to many people because it contains a seed of truth: Inflation has rapidly increased over the past year. But it’s always a good idea to check out viral memes about complicated issues to get a fuller picture — especially those that explicitly discourage further inquiry (“Nothing more needs to be said” and “The facts are clear”).
- “Fact check: Claim about inflation from 2017 to 2022 misses the mark” (Sudiksha Kochi, USA Today).
- “Inaccurate inflation figures circulate on social media” (Karena Phan, The Associated Press).
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