This is CBS I on the world with John Bachelor.

Here's John Bachelor.

The American Economy in an election year.

I welcome Elizabeth Peek, columnist at the Hill,

at Fox News, much on Fox Business,

to comment on the American economy and inflation.

Right now, we're all staring at the same thing.

Inflation is not tamed, certainly not the object that Mr. Powell described when he set out to raise rates 2%.

However, the inflation is not even.

It's lumpy, the surface of America.

And where it's most lumpy is food inflation.

Liz, a very good evening to you.

I've educated myself with a column by John authors of Bloomberg

to talk about food inflation in all the presidency going back to Mr. Nixon.

And I learned that it's a constant in presidency,

that food inflation, there's a rise.

So at the end of the presidency, it's higher than it was at the beginning.

However, there is a distinction to be made.

For example, Mr Clinton enjoyed the least food inflation in his eight years.

Mr. Nixon enjoyed the most in the sevens.

Second is Mr. Biden.

Is your measure of that food inflation?

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