Sen. Rick Scott on CPI Report: Biden’s Inflation Continues Hurting Florida Families

March 12, 2024

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. February’s CPI data shows that there has been a significant rise in inflation during Biden’s presidency, with CPI increasing 3.2% over the year in February 2024. Since Biden took office, inflation is up 18.6% marking the 35th consecutive month inflation is above 3%.


Senator Rick Scott said, “I heard from a woman in Orlando recently about how hard inflation is making her life. She said, ‘Not only can most of us not afford our groceries and rent we are literally choosing between paying our bills and eating.’ It’s heartbreaking. I grew up in public housing and watched my mom make those kinds of tough choices. I don’t want anyone else to have to do that today. This is why we shouldn’t pass a reckless spending bill with 6,600 earmarks. This is why we need to balance the budget and pay down the debt. Unfortunately, President Biden cares more about taking care of illegal aliens and funding his Green New Deal agenda than stopping the inflation he caused. If anyone needed more proof that Biden’s reckless spending is driving America off a fiscal cliff, today’s inflation report leaves no doubt. Inflation is up 18.6% since Biden took office, and his proposed $7.3 TRILLION budget will only make things worse. Think about this: Since 2019, the population has increased 2% and Biden's latest budget proposal is up 66%. That is insane. These increased levels of spending are unsustainable, and it must be dead on arrival in Congress.”


According to today’s CPI release, price increases over the year include:

  • Baby Formula: +8.8%
  • Beef: +7.4%
  • Rent: +6.0%
  • Pork: +6.4%
  • Sugar: +6.1%
  • Tomatoes: +4.7%
  • Juice: +3.4%


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 and HERE for Senator Scott’s Quarterly Economic Snapshot.