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-Harris administration’s reckless tax-and-spend agenda. July’s PPI data shows that there has been a significant rise in inflation during the Biden-Harris administration, with a 2.2 percent year-over-year increase in July. Since President Biden and Vice President Harris took office, PPI inflation is up 20 percent.

Senator Rick Scott said, “Biden-Harris Price Hikes continue to increase prices of goods and services, making it harder for small businesses and families to make ends meet. Every increase in costs is a burden for small businesses and when these folks face the historic inflation caused by Biden-Harris Price Hikes, those skyrocketing costs can quickly force them under. Under the failure of Bidenomics and the resulting Biden-Harris Price Hikes, the American Dream is growing further out of reach while families are having to choose which bills to pay this month and whether they can afford new school supplies for their children. Fighting inflation is about protecting opportunity and the chance for every family, even one like mine growing up that lived in public housing, to work hard and achieve their dreams. We can make Washington work for Florida families, and that starts with ending the reckless spending that is spiraling our country and too many American families into financial ruin. That’s why I am fighting to bring fiscal sanity back to Washington and I won’t stop until it happens.”

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

• Fruit: +4.4%
• Eggs: +80.4%
• Pork: +12.3%
• Chicken: +10.5%
• Dairy: +9.4%
• Coffee: +9.1%

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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