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-Harris administration’s reckless tax-and-spend agenda. July’s CPI data shows that there has been a significant rise in inflation during Biden’s presidency, with CPI increasing 2.9 percent over the year in July 2024. Since the Biden-Harris administration took office, inflation is up 20.3%. 

Senator Rick Scott said, “For months, Biden-Harris Price Hikes have plagued Americans’ wallets and savings accounts – forcing millions of families to do more with less. Skyrocketing prices for groceries, gas and utility bills across the nation due to the Biden-Harris administration’s failed policies and reckless spending has destroyed the American dream for so many, and for folks like my family growing up, it can feel like digging a hole too deep to climb out of. I am always optimistic about the future of America and our ability to save the American Dream, but we need new leadership that will end the reckless spending and dangerous socialist policies that got us into this mess and are now crushing hardworking Americans every single day. Families have to balance their budgets every day, we must force Washington to do the same. That’s why I am fighting like hell to bring down prices and bring fiscal sanity back to Washington so it works for you.”

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

• Eggs: +19.1%
• Bacon: +8.5%
• Butter: +6.1%
• Rent: +5.1%
• Electricity: +4.9%
• Beef: +4.5%

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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