Denver, CO — Political outsider, successful business leader, and Republican nominee for U.S. Senate Joe O’Dea issued the following statement on the July Consumer Price Index report:
“The economy is in a recession and working Americans aren’t seeing any relief in sight,” said Joe O’Dea. “Working Coloradans are still facing higher prices at the pump than the national average, high grocery prices, high rent prices, and are looking for leaders who will fight for them. Reckless spending got us into this disaster. Meanwhile, Michael Bennet and Chuck Schumer voted to supersize the IRS to go after working Americans, raise taxes on manufacturers, and make inflation even worse. We need to restore common sense and fight for working Americans. The stakes are too high.”
U.S. inflation reached 8.5% in July, still near the highest in nearly 41 years. The Fed has consistently said they want to see core CPI come down, but it has not. Food prices have skyrocketed 10.9%. Small businesses have never been more pessimistic about the future of the economy. Coloradans are currently paying $4.11 for gas alone, still higher than the national average of $4.01.
Food at home prices is up 1.3% last month. The rent index increased 0.6%.
About 37% of small business owners say inflation is their top concern.
Learn more about Joe O’Dea’s campaign here.
Original source can be found here
