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. August’s CPI data shows that there has been a significant rise in inflation during the Biden-Harris administration, with CPI increasing 2.5% percent over the year in August 2024. Since the Biden-Harris administration took office, inflation is up 20.3%.  

Senator Rick Scott said, “Inflation has skyrocketed 20.3% since Joe Biden and Kamala Harris took office which means seniors on fixed incomes are having to come out of retirement to make ends meet, parents are forced to take on multiple jobs to put food on the table, and young Americans’ dreams of owning a home are disappearing. I grew up in public housing and watched my mom struggle to provide for us by working multiple jobs and taking on odd jobs when she could. It makes me furious to hear from Floridians today that are being forced to do the same thing because of the Biden-Harris administration’s socialist policies that are fueling inflation while destroying jobs and the American economy. It took less than three years for the Biden-Harris administration to ruin our economy, and things will only get worse if Democrats get another four years to turn America into a socialist dystopia.”

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

• Eggs: +28.1%
• Butter: +6.7%
• Rent: +5.2%
• Beef: +4.9%
• Electricity: +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.

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