Inflation Accelerates Significantly Again in Another Bidenomics Blow to Ordinary Americans
Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement in response to today’s August Consumer Price Index, which rose by 3.7% over the last year, Core CPI, which rose by 4.3%:
“Inflation accelerated significantly again last month, demonstrating the crisis of runaway prices is still ongoing. This accelerating inflation, which is nearly twice the Federal Reserve’s target rate, is another Bidenomics blow to ordinary Americans and small businesses dealing with rapidly rising prices that are lowering their real wages and living standards for two and a half years.
“As usual, this latest surge in inflation is the result of bad policy by the Biden administration, which continues its reckless spending and anti-energy policy. In the face of surging oil prices driving inflation higher, President Biden recently announced that he is blocking oil drilling in Alaska, preventing access to hundreds of millions of barrels of oil that could help bring prices down for struggling Americans and small businesses. Biden cares more about green energy than making sure Americans have enough green to pay for energy.
“To finally slay the inflation beast, Congress should pass legislation that follows JCN’s American Small Business Prosperity Plan, an eight-point pro-growth policy playbook that can get the economy working and real wages meaningfully rising for everyone once again.”