Historic Inflation Persists in October at 7.7%, Job Creators Network Reacts

Washington, DC (November 10, 2022) – Today, the U.S. Bureau of Labor Statistics released its Consumer Price Index (CPI) report showing that inflation increased 7.7% year-over-year in October. Core inflation rose 6.3% year-over-year.

Alfredo Ortiz, president and CEO of Job Creators Network (JCN), released the following statement:

“Today’s CPI report shows that runaway inflation is persisting as a result of President Biden and Congressional Democrats’ reckless spending and bad policies. Not only is Biden responsible for this inflationary fire burning holes in Americans’ pockets but he also has no plans to bring prices down. In his speech yesterday on the midterm election results, Biden doubled down on doing nothing to change his inflationary policies or priorities. Fortunately, it seems as though Republicans are set to take control of the House of Representatives, ushering in divided government and putting an end to Democrats’ reckless spending. To overcome inflation, the new Congress should follow JCN’s American Small Business Prosperity Plan, which includes eight commonsense provisions to bring down prices and jumpstart the economy.”

To learn more about JCN’s Prosperity Plan, click here.