Biden: "Our inflation rate is lower than other nations in the world"

FACT CHECK: The U.S. has one of the highest inflation rates in the developed world.

Speaking to reporters after a NATO summit in Madrid, Spain, Thursday, President Joe Biden again falsely claimed inflation in the United States is lower than the rest of the world.

But this statement, which Biden makes often, isn't true. 

"Last year, businesses around the world started raising prices at a pace not seen in decades. Among major economies, one country was hit the worst - the United States," the BBC reports. "Prices jumped at an annual rate of 4.7% last year - faster than any other country in the Group of Seven (G7) advanced economies, according to the Organisation for Economic Cooperation and Development (OECD). In the UK, for example, inflation was just 2.5%. Last month, inflation in the US hit 8.6%, one of the highest rates in the world." 

Under Biden's economic policies and runaway government spending, inflation has hit new records and 40 year highs. 

The vast majority of Americans, including independents, are dissatisfied with Biden's job on the economy.