WASHINGTON, D.C. – Today, 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. July’s CPI data shows that there has been significant inflation nearly every month of Biden’s presidency. While year over year consumer prices increased 8.5% in July, food prices reached an inflationary level not seen since 1979.
Senator Rick Scott said, “Washington is broken and backwards. While I have been demanding an end to reckless spending, Democrats in Washington have responded to a 40-year high in prices by greenlighting another nearly $1 TRILLION in deficit spending in just the last two weeks through the CHIPS Act and so-called ‘Inflation Reduction Act’. You can’t fight inflation with a non-stop spending spree, but that’s all we can expect from Joe Biden and the radical socialist Democrats here in Washington. Even as Biden drives the country into a recession, all the Democrats seem capable of is cutting Medicare, spending your money and raising your taxes. The Biden administration has made clear that it is waging a war on our seniors, a war on American families and a war on our economy. Until this incompetent president is out of office, Florida families will continue to suffer.”
According to today’s CPI release, price increases over the year include:
- Gasoline: +44.0%
- Eggs: +38.0%
- Butter and Margarine: +26.4%
- Coffee: +20.3%
- Chicken: +17.6%
- Milk: +15.6%
- Electricity: +15.2%
Since being elected to the U.S. Senate, Senator Scott has repeatedly urged action to address America’s debt crisis and the harmful effects of inflation. Click HERE for a comprehensive list of his statements and actions on this urgent issue.