Senator Rick Scott (R-Fla.) issued a statement in response to the latest Producer Price Index (PPI) data from the Bureau of Labor Statistics (BLS), calling for urgent fiscal reforms to tackle what he describes as an “inflation crisis” driven by the Biden-Harris administration’s economic policies.
The October PPI report shows a sharp 20.5% increase in inflation since President Biden and Vice President Harris took office.
READ: Inflation Inches Up, Job Growth Slows
“The American people have suffered every single day under the Biden-Harris administration thanks to the failed policies that have caused record inflation. PPI inflation is up more than 20 percent since this disastrous administration took office, but President Biden and Vice President Harris have shown they have no plan or desire to stop it,” said Scott. ” As I travel around Florida and talk to folks, I hear constantly from small businesses that are struggling to stay afloat with Biden-Harris Price Hikes, and that the American dream is being erased from reality as a result.”
Key Price Increases from the Latest PPI Report:
- Eggs: +98.2%
- Coffee: +14.5%
- Pork: +12.4%
- Vegetables: +12.1%
- Fruit: +7.8%
“Growing up in public housing, I know firsthand how devastating even small price increases can be for families because I watched my mom struggle with it when I was a kid,” said Scott. “When President Trump takes office in January, I am confident we will finally change course and end the Biden-Harris inflation catastrophe that has plagued families and their wallets for the past four years.”
Since joining the U.S. Senate, Senator Scott has been vocal about the need for immediate action to address America’s debt and the adverse effects of inflation.
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