Arrington: CPI Shows Biden Economy Continues to Punish Working Americans

WASHINGTON – House Budget Committee Chairman Jodey Arrington (R-TX), issued the following statement after the Consumer Price Index (CPI) showed inflation continuing at a forty- year high for the 15th consecutive month.

“Hardworking Americans continue to pay the price for Democrat’s unbridled spending with higher consumer costs, lower wages, and a stagnate economy.

• Inflation is running at 6.4 percent, the highest rates in forty years for the 15th consecutive month.
• Real Wages have declined by 3.9 percent since President Biden took office.
• Core inflation is at 5.5 percent, more than triple the level when President Biden took office.
• Gasoline prices are currently 52 percent higher than when President Biden took office. Energy prices have increased 42 percent since President Biden took office.

“The Biden economy continues to punish working families who are struggling to pay the bills; meanwhile, the President refuses to change his spending habits and negotiate a responsible debt ceiling deal with Republicans.”

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