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Families Had a Double Dose of Bad Inflation News Last Week

May 16, 2022

American families got a double dose of bad inflation news last week, with inflation averaging near 10 percent over the last three months and small businesses increasing prices for the fifth month in a row, Republican Leader on the Ways and Means Committee Rep. Kevin Brady (R-TX) noted on “The Guy Benson Show” on Fox News radio.


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Rep. Brady noted that inflation is still the issue American families are worried about the most:


“Families had a double dose of bad news last week. Both families and our Main Street businesses, so obviously the inflation report was worse than expected. Core inflation – which is not counting food and fuel, for example – that doubled its rate of growth in just one month. If you look at the last three months Guy, and this is a number you don’t see in the media but you should, inflation was averaging 9.9 percent the last three months. So those, including the President, who said it’s peaked and starting to ease, that’s just not what the numbers say. 


“ The fifth straight month of wholesale price hikes by double digit numbers is another sign. Those price hikes are going to show up in the cost of things that consumers buy. ”


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With the national average price of gas expected to reach $4.75 a gallon in the next few weeks, Rep. Brady added:


“What I always remind people is that up until gas prices went up, Democrats were cheering the attack on American-Made energy from killing Keystone to to not doing any leases onshore or offshore, the President’s reversal, as you said, offshore and up in Alaska as well. 


“If Democrats want to find the culprit, look in the mirror. Because these are their policies and it is critical.”


READ: No, Mr. President Your Policies Have Not “Helped” The Economy


Asked about Democrats doubling down on their plans for more taxes and spending, Rep. Brady said:


“That $2 trillion [bill] that they rammed through Congress without a single Republican vote was supposed to be the COVID stimulus. But as you know, less than a dime of every dollar went to COVID. And even that diverted a lot of that money away. There is still a great part of that pot of money that is unspent, that ought to be prioritized for treatments and therapies, but they just don’t want to do it. 


“Revenues are coming into Washington at record levels from families, from small businesses, from big businesses – in fact they’d never had this much revenue in history. So they’ve got all the money they need in the budget. They just don’t have all the money they want. And that’s where higher taxes and this spending come in.”


READ: Fact Check: Higher Corporate Tax Revenue After GOP Tax Reform Debunks Another Democrat Myth