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. June’s PPI data shows that there has been a significant rise in inflation during Biden’s presidency, with a 2.6% year-over-year increase in June. Since Biden took office, PPI inflation is up 19.8%.

Senator Rick Scott said, “Joe Biden is clearly clueless to the suffering that Bidenomics and the high prices and record inflation it has caused are forcing on American families and small businesses. When war is raging around the world, U.S. debt is about to explode over $35 trillion, and PPI inflation has grown by 19.8% under Biden’s administration, having an incompetent president is not just disturbing; it’s dangerous. Americans know that Biden can’t fix the damage he’s done because he has totally lost his ability to lead our country and is wildly out of touch with reality. Whether it's seniors coming out of retirement to pay bills, families skipping meals to save money, or people taking on multiple jobs just to survive, Biden has failed hardworking Americans in Florida and across the nation with a terrible Bidenomics agenda. It’s time for new leadership in the White House that will demand fiscal sanity with a balanced budget and finally end the reckless spending that is threatening to destroy our country.”

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

• Eggs: +98.6%
• Pork: +19.5%
• Hardware: 11.0%
• Dairy Products: +6.2%
• Chicken: +6.1%
• Coffee: +6.0%
• Home Heating Oil: +5.8%

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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