Wholesale prices for businesses jumped 10.8 percent from the previous year, according to a new Producer Price Index (PPI) report from the Department of Labor. Ways and Means Republican Leader Rep. Kevin Brady (R-TX) issued the following statement:

“This is more bad news for consumers.

“For six months in a row, Main Street businesses have been hit by double-digit inflation – and that means higher prices ahead for families as businesses are forced to pass the increases along in this cruel Biden economy.

“The Biden Administration has offered no real solutions – just more Washington spending and higher taxes on Main Street businesses that will fuel higher prices in the future.”