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 reckless tax-and-spend agenda. January’s CPI data shows that there has been a significant rise in inflation during Biden’s presidency, with CPI increasing 3.1% over the year in January 2024. Since Biden took office, inflation is up 17.9% marking the 34th consecutive month inflation is above 3%.

Senator Rick Scott said, “Fiscal responsibility is a top priority for me here in Washington, but unfortunately that is not the case for most in Congress and it’s certainly not the case for the Biden administration. Prices have continued to increase over the past three years and American families cannot catch a break. My office heard from a resident of Tampa; they are worried they will lose their home and have trouble feeding their family. The rising costs of their everyday goods, like food and gas, are hurting them and forcing them to make tough choices. This is the case for families all over Florida and the country, and it must stop. This administration is taking away folks’ chance at the American Dream, and I won’t stop fighting until Washington returns to fiscal sanity.”

According to today’s CPI release, price increases over the year include:

• Baby Formula: +8.7%
• Beef: +7.7%
• Rent: +6.1%
• Pet Food: +4.8%
• Fruits & Vegetables: +3.8%
• Whole Chicken: +3.7%
• Peanut Butter: +3.6%

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 and HERE for Senator Scott’s Quarterly Economic Snapshot.

###