Today, Senator Rick Scott released the below statement following the latest Producer Price Index (PPI) release from the Bureau of Labor Statistics (BLS) highlighting the need to implement substantive fiscal reforms to end the ongoing inflation crisis fueled by the Biden-Harris administration’s reckless tax-and-spend agenda. August’s PPI data shows that there has been a significant rise in inflation during the Biden-Harris administration. Since President Biden and Vice President Harris took office, PPI inflation is up 20 percent.
“Inflation is up 20 percent since January 2022 and spiraling out of control, but the Biden-Harris administration has proven it has no plan to stop it,” Senator Rick Scott said. “Small businesses are struggling to stay afloat with Biden-Harris Price Hikes, and the American dream is being erased from reality as a result. 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. Anyone who tells you things are improving or getting better is lying, and hardworking Americans know the truth. Millions of Americans are having to make do with less—and they cannot afford another four years of Biden-Harris price hikes.”
According to today’s PPI release, price increases over the year in August included:
- Eggs: +155.0%
- Pork: +12.2%
- Chicken: +10.8%
- Dairy: +7.6%
- Coffee: +6.3%
- Fruits and Vegetables: +3.5%
