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. March’s CPI data shows that there has been a significant rise in inflation during Biden’s presidency, with CPI increasing 3.5% over the year in March 2024. Since Biden took office, inflation is up 19.4% marking the 36TH consecutive month inflation is above 3%.

Senator Rick Scott said, “Bidenomics is clearly failing Florida families and the March inflation report proves that’s true. Under President Biden’s failed Bidenomics agenda, inflation has skyrocketed by 19.4% since he took office. Prices keep climbing, and wages can’t keep up. That’s why I have been fighting every day to stop Democrats from doubling down on the reckless spending that got us here in the first place. As someone who grew up in public housing and watched my mom struggle to pay the bills, I know how devastating inflation is for families like mine growing up. I made a promise when Floridians elected me to the Senate that I would force Washington to work for you, and I won’t stop fighting like hell to end Biden’s bad policies, deficit spending and burdensome regulation and bring fiscal sanity back to your federal government.”

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

• Baby Formula: + 9.9%
• Beef: +7.6%
• Lettuce: +5.8%
• Rent: +5.7%
• Sugar: +5.6%

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.

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