WASHINGTON, D.C. – Today, following the latest Consumer Price Index (CPI) release from the Bureau of Labor Statistics (BLS), Senator Rick Scott released the below statement highlighting the need to implement substantive fiscal reforms to end the ongoing inflation crisis fueled by the Biden administration’s tax-and-spend agenda. January’s CPI data shows that there has been a significant increase in inflation every month of Biden’s presidency. Year over year consumer prices increased 7.5% in January—the largest 12-month increase since the period ending February 1982.

Senator Rick Scott said, “January’s CPI data marks a sad anniversary for American families: one year of Joe Biden's failed policies and reckless spending causing historic inflation and skyrocketing prices. President Biden has taken our economy and flushed it down the drain. Worse, he doesn’t seem to be bothered by that at all. While Biden is in Delaware every weekend enjoying his ice cream, families are struggling to make ends meet. Our poorest families, like mine growing up, are having to make the tough choice between buying gas and groceries. I have been calling attention to this crisis almost every day for a year. I have introduced legislation, and I have repeatedly asked the president and the Federal Reserve to take action. They haven't done a thing to fix it. All we see from this administration is finger pointing. Biden needs to take responsibility TODAY and get this crisis under control. Americans deserve better.”

According to today’s CPI release, price increases over Joe Biden’s first year as president include:

• Gas: +40.0%
• Electricity: +10.7%
• Food: +7.0%
• Rent: +4.4%

Since being elected to the U.S. Senate, Senator Scott has repeatedly urged action to address America’s debt crisis and the harmful effects of inflation. Click HERE for a comprehensive list of his statements and actions on this urgent issue. 

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