Brady: Double-Digit Price Hikes Hitting Main Street Businesses, Signalling More High Inflation Ahead for Consumers
Wholesale prices jumped 11 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:
“When Main Street businesses get hit with double-digit increases in prices, consumers are the ones who ultimately pay.
“This is the fifth straight month of wholesale price hikes by over 10 percent under President Biden – and he hasn’t proposed one real solution to address the raging inflation he birthed.
“Families and workers should brace for higher prices ahead.”