Biden: U.S. economy had no inflation in July

Data from the Labor Department showed inflation reached 8.5% in July, while the Consumer Price Index remained the same since last month.

Video Transcript

JOE BIDEN: Zero. Today, we received news that our economy had 0% inflation in the month of July. While the price of some things went up last month, the price of other things went down by the same amount. The result-- zero inflation last month.