Congresswoman Ashley Hinson (IA-01) released the following statement on consumer prices hitting a thirty-year high in October, calling on the Administration to focus on economic policies that will bring prices back down rather than move forward with the multi-trillion dollar reconciliation package.
“Our economy isn’t working for working families right now. Food and energy prices continue to climb and are clearly showing no signs of going back down anytime soon. Now is the time to lower taxes and ease this burden on small businesses, families, and farmers. Instead of spending trillions of dollars we don’t have, the Administration and Congress should work together on commonsense economic policies to bring down the cost of goods, help workers’ paychecks go further, and make life affordable again.” – Congresswoman Ashley Hinson
According to the U.S. Bureau of Labor Statistics:
- Consumer prices are up 6.2 percent in the last year, the highest increase since November 1990.
- The cost of beef is up 3.1 percent in the past month, 20.1 percent over this year.
- The cost of pork is up 14.1 percent for the year, the largest annual increase since December 1990
- The cost of gas is up 6.1 perfect in the past month and 49.6 percent for the year, the highest level since September 2014.
