RNC STATEMENT ON BIDEN’S DISASTROUS MARCH CONSUMER PRICE INDEX
CPI surged by 8.5 percent and real average hourly earnings fell 2.7 percent, with rising prices eating up any wage growth
WASHINGTON – Today, Republican National Committee (RNC) Chairwoman Ronna McDaniel released the following statement on Biden’s disastrous March consumer price index:
“Prices are up, real wages are down, and families and small businesses are being left behind in Biden’s economy. Democrats’ reckless spending and failed policies have crushed Americans, and they don’t seem to care. Voters do care, and they will be sending a message in November.”
Background:
- March’s Consumer Price Index surged by 8.5 percent compared to last year – exceeding economists’ expectations and reaching a new 40-year high.
- Core consumer prices – excluding food and energy – rose by 6.5 percent since last year, the largest increase since August 1982.
- Real average hourly earnings fell 2.7 percent in March, with rising prices eating up any wage growth.
- Since Biden’s failed $1.9 trillion “stimulus” was passed, inflation has outpaced wages every single month.
- As inflation continues to surge, the Biden White House has attempted to gaslight Americans into believing Biden’s inflation is “Putin’s price hike.”
- Inflation was “accelerating” long before Russia’s invasion of Ukraine.
- Consumer prices rose at or above 5 percent year over year for 11 months