FACT FOCUS: An analysis of Biden’s economic policies related to rising prices

WASHINGTON – President Joe Biden’s economic policies were criticized by several speakers at the Republican National Convention. But some of the criticism was wrong.

Here’s a look at the facts.

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North Dakota Gov. Doug Burgum on the economy: “Biden’s bureaucracy has raised the price of gas in your car, the cost of food on your table, the cost of the clothes on your back, and even raised your rent.”

THE FACTS: The claim is misleading. Republicans and some economists have blamed the Democratic president’s $1.9 trillion coronavirus pandemic aid for contributing to rising inflation. But there is little sign that regulation was to blame.

Gasoline prices rose after the pandemic due to lower production levels, but market data shows they rose further after Russia invaded Ukraine in early 2022.

The war in Ukraine also contributed to the rise in food inflation. The consumer price index shows that clothing costs have risen under Biden, but once again, there is no evidence that bureaucracy explains the problem.

As for housing costs, most economists and industry analysts say the problem is a lack of new construction and homes available for purchase. There are regulations that inhibit new construction, but these are mainly at the state and local level.

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This story was first published on July 17, 2024. It was published again on July 18, 2024, to correct Burgum is from North Dakota, not North Carolina, and he spoke at the Republican National Convention, not the Conference National Republican. ___

Find AP fact checks here: https://apnews.com/APFactCheck.