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Image of a U.S. one hundred dollar bill on fire, tilted downward, with the word "INFLATION" in bold, metallic letters across the front. The burning bill symbolizes the loss of purchasing power due to rising prices.
Image of a U.S. one hundred dollar bill on fire, tilted downward, with the word "INFLATION" in bold, metallic letters across the front. The burning bill symbolizes the loss of purchasing power due to rising prices.

Business / Economy News

Rick Scott: High Inflation Will Hurt Hurricane Ian Recovery

On Wednesday, U.S. Sen. Rick Scott, R-Fla., weighed in on the latest Producer Price Index (PPI) release from the Bureau of Labor Statistics (BLS).

Scott’s office insisted the release “showed inflation continued to rise in September, increasing 8.5 percent over the year—higher than expected.”

The senator pointed the blame at President Joe Biden and noted that high inflation will hamper the Sunshine State’s efforts to recover from Hurricane Ian.

“Skyrocketing inflation has been hurting Florida families every day for nearly two years. But, when times get tough, inflation becomes an unbearable kick for families trying to get back on their feet. Make no mistake—Joe Biden’s skyrocketing inflation is a huge roadblock for so many families now fighting to recover from Hurricane Ian. Nevertheless, we won’t allow Biden’s failures to keep Florida down. Floridians are strong and we are so grateful for all of the non-profits and volunteers who are selflessly serving families across Florida who have been devastated by Hurricane Ian. Everyone is working to deliver more with dollars that buy less. Together, Floridians will get through this difficult recovery and in Washington, I’ll be fighting as hard as ever to get reckless spending under control and end the crushing pain caused by Biden’s raging inflation,” Scott said.

According to the PPI release, price increases over the year in September included:

Corn: +36.5%
Coal: +53.8%
Grains: +30.4%
Eggs: +97.3%
Turkeys: +38.2
Home Heating Oil: +73.2%
Construction: +23.1%

 

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