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. May’s CPI data shows that there has been a significant rise in inflation during Biden’s presidency, with CPI increasing 3.3% over the year in May 2024. Since Biden took office, inflation is up 20.1% marking the 38th consecutive month inflation is above 3%.

Senator Rick Scott said, “Growing up, my family lived in public housing and I watched my mom work several jobs and still struggle to keep food on the table. Any rise in prices was devastating for us and caused terrible hardships like my dad’s car being repossessed. I’m fighting to restore fiscal sanity in Washington to stop inflation, protect the American Dream and ensure that no family in America has to go through what mine did growing up. The Bidenomics agenda continues to plague American families with rising prices, forcing families to cut back on essentials and take on multiple jobs just to make ends meet – just like my mom did. That could end today if Joe Biden acknowledged the devastating failure of Bidenomics and ended the reckless spending that has dug a $34 trillion debt hole and fueled historic inflation for American families.” 

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

• Bacon: +6.9%
• Beef: +5.7%
• Rent: +5.4%
• Bread: +4.2%
• Sugar: +3.9%

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.

###