What was the inflation at the end of Biden’s term

Checked on January 20, 2026
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Executive summary

Inflation at the end of President Joe Biden’s term — measured by the year‑over‑year change in the Consumer Price Index for January 2025 — stood at about 3.0 percent [1], down sharply from its 2022 peak but still above the Federal Reserve’s long‑run 2 percent target [1] [2].

1. How “the end” is being measured and the core figure

The most direct way to answer “what was inflation at the end of Biden’s term” is to use the Bureau of Labor Statistics CPI release for the final month of the administration: January 2025, which the reporting here records as a 3.0 percent year‑over‑year increase in the CPI [1]; that is the figure most economists and journalists quoted as the terminal monthly inflation rate for the Biden presidency [1].

2. The arc that produced that number — peak to taper

That 3.0 percent year‑over‑year reading arrived after a dramatic spike in 2022 when CPI inflation peaked at roughly 9.1 percent year‑over‑year in the 12 months ending June 2022, the largest 12‑month jump in four decades, and then gradually cooled as the Federal Reserve tightened policy [3] [4].

3. Alternative metrics and political framing

Different actors emphasize different measures: House Republicans cited a cumulative “total inflation” of about 17.1 percent since Biden took office as a way to underscore economic pain [5], while other outlets and analysts compare average annualized inflation rates across presidencies to contextualize the pace of price rises [6] [2]. These choices reflect political agendas — cumulative measures magnify long‑run cost growth for rhetorical effect, and average rates smooth short‑term volatility [5] [6].

4. Why 3.0 percent matters but is not the whole story

A 3.0 percent year‑over‑year CPI reading is materially lower than the 2022 peak and shows progress in cooling price growth, but it remained above the Fed’s 2 percent target and left many households feeling the burden of higher prices for essentials, a dynamic that shaped political perceptions of Biden’s economic stewardship [1] [2] [7].

5. Causes, accountability and contested narratives

Economists and reporters point to a mix of pandemic‑era supply disruptions, large fiscal stimulus, energy shocks and labor market tightness as root causes of the inflation surge, while critics argue administration policy choices amplified price pressures; defenders emphasize global forces beyond any president’s immediate control and the Fed’s central role in fighting inflation [3] [4] [8]. Political actors selectively highlight figures that support their narratives: Republicans used cumulative inflation and wage‑adjusted declines to condemn Biden’s record [5] [9], while supporters point to job and wage gains alongside declining inflation to argue for a more balanced verdict [6] [10].

6. What the reporting does not settle and the limitations in comparing presidencies

Available reporting provides a clear terminal CPI reading for January 2025 but does not settle deeper causal disputes — for example, the precise quantitative split between global supply shocks and domestic fiscal policy in driving 2021–22 inflation — and it warns against simplistic presidential credit or blame because monetary policy and international events played large roles [3] [8] [4]. Cross‑presidential comparisons must account for different starting points, crises and policy mixes, which the cited analyses attempt but cannot fully standardize [2] [6].

Want to dive deeper?
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What is the difference between headline CPI, core CPI and cumulative inflation since 2021?
How did wages and real household income change during Biden’s presidency after accounting for inflation?