PPI REPORT CONFIRMS HISTORIC INFLATION CONTINUES, JOB CREATORS NETWORK REACTS

Today, the U.S. Bureau of Labor Statistics released the Producer Price Index report for June, showing an annual increase of 11.3%.

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

“Today’s PPI report, coming on top of yesterday’s CPI report, is just the latest evidence that Bideninflation is accelerating. The worst inflation in four decades is a direct result of President Biden’s spending spree and cutbacks on domestic energy production.  We are in a recession and small businesses are bearing a disproportionate share of the pain.  The President’s endless talk about ‘Putin’s Price Hike’ is embarrassing – not just because it’s false, but because it’s a shameful refusal to act.  The American people deserve better.”