After the Bureau of Labor Statistics reported in its September Consumer Price Index (CPI) that core inflation rose higher than expectations and to a new 40-year high, at 6.6 percent from the previous year – Ways and Means Republican Leader Rep. Kevin Brady (R-TX) issued the following statement:
“This is terrible news for seniors and working families. Nearly a year after President Biden promised Americans inflation had peaked, core inflation is now the highest on record in his presidency.
“Health care costs rose nearly 30 percent in the last year, the largest increase on record. Rent prices saw the largest hike ever recorded as well. Joe Biden’s cruel economy is just getting worse.
“There’s no question President Biden’s so-called ‘Inflation Reduction Act’ has failed American workers.”