From September 13, 2022 post
Today, Congressman Ken Calvert issued the following statement on the Consumer Price Index data release:
"Just last week, a nationwide Gallup poll found that price increases are causing a financial hardship for a majority of American households. Today's new inflation data shows things are only getting worse, not better. Inflation in August was 8.3% higher than last year and remains at a near 40-year high. Grocery prices skyrocketed 13.5 percent in August, the largest increase in 43 years. Making matters even worse, wages are not keeping up with inflation. Real average hourly earnings fell over the last year. That means workers are effectively taking a pay cut.Adding insult to injury, President Biden is holding an event today ‘celebrating' the passage of legislation he promised would lower inflation. President Biden's economic policies aren't working, in fact they are hurting American families. We can't spend our way out of inflation. We desperately need to take our country in a different direction to provide American families with relief."
Original source can be found here.
