Job Creators Network Reacts to 9.7 Percent Increase in the Producer Price Index

Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement in response to the Labor Department’s announcement today that the Producer Price Index rose by 9.7 percent over the last year:

“Inflation continues to spiral out of control, disproportionately hurting small business job creators. As a result of President Biden and Congressional Democrats’ reckless spending, businesses are facing wholesale cost increases of nearly 10 percent over the last year. This historic inflation is pressuring margins, alienating customers, and delaying the economic recovery. Small businesses are facing even higher inflation because they do not enjoy the economies of scale or preferential purchasing contracts as their big business competitors. The Biden Administration is in denial about what needs to be done to address inflation and fix this economy. President Biden must end this war on small businesses by immediately committing to no more unnecessary spending or distortionary social programs that further raise prices.”