After the Bureau of Labor Statistics reported in its November Consumer Price Index (CPI) that inflation rose at 7.1 percent from the previous year, Ways and Means Republican Leader Rep. Kevin Brady (R-TX) issued the following statement:
“So much for President Biden’s claim that inflation peaked one year ago – grocery prices rose by 12 percent over the last year, its eighth consecutive double-digit price increase, and housing remains too expensive for buyers and renters alike. Even holiday baking supplies like flour, butter, and eggs have reached record highs.
“American families are maxing out credit cards, while household wealth has declined for the third consecutive quarter.
“This cruel economy is going to get a lot worse next year once President Biden’s tax increases go into effect.”