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. June’s CPI data shows that there has been a significant rise in inflation during Biden’s presidency, with CPI increasing 3.0% over the year in June 2023. Since Biden took office, inflation is up 16.6%.
Senator Rick Scott said, “If Joe Biden thinks that his economic policies are actually helping American families live the American dream, he’s more delusional than we feared. Under ‘Bidenomics’ families are left with massive inflation and paychecks that don’t go as far as they struggle to put food on the table, and turning to food banks for the first time in their lives. I have heard from families across Florida who are left worrying about how to pay bills and with less money in bank accounts and retirement funds. It’s got to stop. We've got to get this skyrocketing inflation and reckless spending under control and stop expecting our kids and grandkids to pay the bill. That’s how we protect the American dream.”
According to today’s CPI release, price increases over the year include:
- Pet Food: +12.1%
- Bread: +11.5%
- Fruits and Vegetables: +8.8%
- Rent: +8.3%
- Baby Food and Formula: +7.5%
- All Food: +5.7%
- Electricity: +5.4%
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.