RNC STATEMENT ON HIGHEST INFLATION SURGE IN NEARLY FOUR DECADES
WASHINGTON - Today, Republican National Committee (RNC) Chairwoman Ronna McDaniel released the following statement regarding the historic spike in inflation in November:
“Joe Biden and the Democrats’ Build Back Broke agenda created historically high inflation, making Americans pay more for nearly everything this holiday season. With skyrocketing prices at a 39-year high, a supply chain crisis, trillions in reckless spending and tax hikes on families, Biden has lost the trust and confidence of the American people to get the economy working for them. Americans can thank Biden and the Democrats for the most expensive holiday season on record.”
BACKGROUND:
The Labor Department announced this morning that consumer prices increased by 6.8 percent in November compared to last year, the largest annual increase in over 39 years.
- Core consumer prices rose 4.9 percent since last year, the largest increase since June 1991.
- Real average hourly earnings decreased 1.9 percent, with inflation eating up workers' wage gains.
- 71 percent of households making less than $40,000 have experienced financial hardship due to Bidenflation.