Presidential debate crib sheet: U.S. economy numbers to know
- The U.S. economy will likely be a major focus of Vice President Kamala Harris and former President Donald Trump's first live presidential debate.
- The high cost of living regularly tops voters' priority lists in national polling, and both Harris and Trump have unveiled new economic proposals ahead of the contest.
- CNBC's crib sheet of U.S. economic numbers is designed to help viewers quickly assess candidates' claims about inflation, the U.S. job market, federal spending levels and GDP.
When Vice President Kamala Harris and former President Donald Trump take the debate stage in Philadelphia on Tuesday night, expect them to arrive with a stockpile of talking points about the U.S. economy.
In the weeks leading up to their head-to-head debate, hosted by ABC News, both Harris and Trump have unveiled new economic proposals. They have also tried to paint their rival as a threat to the health and stability of the U.S. economy.
As the candidates try to frame the economy in favorable terms Tuesday, keep these key numbers in mind.
- 1.4%: The Consumer Price Index in January 2021 at the start of the Biden-Harris administration. President Joe Biden has repeatedly claimed that he inherited a 9% inflation rate from Trump, which is false.
- 9.1%: The CPI in June 2022, the height of the post-pandemic inflation surge under Biden, and the highest rate since 1981. Trump has repeatedly claimed it was the highest inflation rate in U.S. history, but this is false.
- 2.9%: The annual CPI in July of this year, the most recent reading. This is the lowest 12-month inflation rate since March 2021. The next CPI report will be released Wednesday.
- 19.4% The cumulative increase in prices since Biden and Harris took office, according to a CNBC analysis of CPI