On Thursday, following the latest Consumer Price Index (CPI) release from the Bureau of Labor Statistics (BLS), Senator Rick Scott released the below statement highlighting the need to implement substantive fiscal reforms to end the ongoing inflation crisis fueled by the Biden administration’s reckless tax-and-spend agenda. October’s CPI data shows that there has been significant inflation nearly every month of Biden’s presidency, increasing 7.7% in October.
Senator Rick Scott said, “As Americans begin holiday preparations, Joe Biden’s raging inflation crisis is set to crush spirits for the second year in a row. For nearly two years, families in Florida and across the country have been dealing with rising prices and Biden has done NOTHING to fix it. He and Congressional Democrats created this devastating crisis with their endless demand for reckless spending and they must answer for it. Growing up, my family lived in public housing and had to fight tooth and nail every month just to get by. Too many families in America are now living that same struggle and it appears that things will only get worse. Unemployment is rising, prices continue to skyrocket and we could face a critical shortage of fuel and heating oil this winter. That’s the America that Joe Biden’s reckless, failed agenda has created and I won’t rest until we force change that puts American families first. It’s time to end the madness and demand fiscal responsibility that will finally end this national nightmare. Enough is enough.”
According to Thursday’s CPI release, price increases over the year include:
- Fuel Oil: +68.5%
- Eggs: +43.0%
- Butter and Margarine: +33.6%
- Flour: +24.6%
- Lunchmeat: +19.1%
- Gasoline: +17.5%
- Potatoes: +15.2%
