February 14, 2023
Arrington: CPI Shows Biden Economy Continues to Punish Working AmericansWASHINGTON – 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.