RNC STATEMENT ON HIGHEST INFLATION IN 40 YEARS

WASHINGTON – Today, Republican National Committee (RNC) Chairwoman Ronna McDaniel released the following statement on the January consumer price index:

“Americans pay more and earn less because of Joe Biden’s failed agenda. Biden lied – his inflation is not ‘transitory’ – and hardworking Americans are facing the consequences as skyrocketing prices for nearly everything are here to stay. Yet Biden doesn’t care.”

Background:

• January’s Consumer Price Index rose by 7.5 percent compared to last year – the largest annual increase in 40 years.
• Core consumer prices – excluding food and energy – rose by 6 percent since last year, the largest increase since August 1982.
• Real average hourly earnings fell 1.7 percent in January, with inflation eating up any wage gains.