For the sake of context, I suggest that you to read this post first.
from The Chicago Statement on Biblical Inerrancy
A Short Statement
1. God, who is Himself Truth and speaks truth only, has inspired Holy Scripture in order thereby to reveal Himself to lost mankind through Jesus Christ as Creator and Lord, Redeemer and Judge. Holy Scripture is God’s witness to Himself.
2. Holy Scripture, being God’s own Word, written by men prepared and superintended by His Spirit, is of infallible divine authority in all matters upon which it touches: it is to be believed, as God’s instruction, in all that it affirms: obeyed, as God’s command, in all that it requires; embraced, as God’s pledge, in all that it promises.
3. The Holy Spirit, Scripture’s divine Author, both authenticates it to us by His inward witness and opens our minds to understand its meaning.
4. Being wholly and verbally God-given, Scripture is without error or fault in all its teaching, no less in what it states about God’s acts in creation, about the events of world history, and about its own literary origins under God, than in its witness to God’s saving grace in individual lives.
5. The authority of Scripture is inescapably impaired if this total divine inerrancy is in any way limited or disregarded, or made relative to a view of truth contrary to the Bible’s own; and such lapses bring serious loss to both the individual and the Church.
Thanks again to Michael Marlowe for his helpful website that contains the whole statement as well as many other helpful tools for biblical research. Stay tuned for Part 3, which will begin to cover the affirmations and denials which, in my opinion, do an excellent job of clarifying what is and is not meant by biblical inerrancy.
Joy and Truth,