WASHINGTON, D.C. – Today, Senator Rick Scott released the below statement following the latest Producer Price Index (PPI) release from the Bureau of Labor Statistics (BLS) 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 PPI data shows that there has been a significant rise in inflation during Biden’s presidency. Since Biden took office, PPI is up 19.2%.

Senator Rick Scott said, “President Biden’s handling of the economy is a total failure. Under Biden’s watch, Americans are spending more, getting less and having to work multiple jobs just to make ends meet. As a kid, I saw my mom fight to keep our bills paid and food on the table, but we often went without. With PPI inflation up over 19 percent since Biden took office, too many Florida families are facing that same struggle. Democrats have no plan to fight inflation because they don’t care about hardworking American families. I’m fed up with their bad policy and the pain it’s causing and won’t stop fighting to balance the budget, pay down debt and bring fiscal sanity back to Washington.”

According to today’s PPI release, price increases over the year in May included:

• Eggs: +70.5%
• Pork: +20.8%
• Home Heating Oil: +6.4%
• Fruits and Vegetables: +5.0%
• Coffee: +4.9%
• Electricity: +4.2%

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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