Chairman Arrington Statement on July 2026 CPI Report
WASHINGTON, D.C. — The Bureau of Labor Statistics released the Consumer Price Index (CPI) report for July 2026, which shows inflation dropping to its lowest point since March 2026, while real wages have increased since President Trump took office.
House Budget Committee Chairman Jodey Arrington (R-Texas) released the following statement:
"The latest inflation report is another clear sign President Trump and Republicans are turning the page on Biden’s cost-of-living crisis.
"Under Biden, inflation averaged 5 percent. Under President Trump, it’s averaging nearly half and declining. Eighteen months into Biden’s presidency, prices had jumped 12 percent—that’s three times higher than under President Trump. Energy prices soared 50 percent and grocery prices climbed 16 percent in Biden’s first eighteen months, both five times higher than under Trump. Biden’s policies drove real weekly earnings down—taking nearly $3,000 a year out of Americans’ pockets. Under President Trump, real wages are already up nearly $1,000.
"Republican pro-growth policies are working to unleash American prosperity and make America affordable again."
BACKGROUND
Prices rose 3.4 percent, year-over-year, in July, down from 3.5 percent in the prior month. Excluding the volatile food and energy categories, the year-over-year increase in prices eased to 2.5 percent from 2.6 percent, matching theFebruary 2026 level and the lowest since March 2021, before Biden’s cost-of-living crisis.
