Inflation down
Administration’s claim
In January 1992 the President said that inflation was down and interest rates were down.
What the record establishes
In BLS CPI-U data, 12-month inflation was 4.7% in January 1989, peaked at 6.3% in October and November 1990, and was 3.1% in December 1991, the month before the address; it was 3.3% in January 1993. The interest-rate statement was not reviewed for this edition.