Inflation Soared by 9.1 Percent in June — the Highest in Four Decades

News Release | Republican National Committee

Today, Republican National Committee (RNC) Chairwoman Ronna McDaniel released the following statement on the June Consumer Price Index:

“This is insanity. There is no end in sight for families struggling with their wages and livelihoods being wiped out by Bidenflation. Everyone feels the cost of Biden and Democrats’ reckless spending as Americans strain to afford gas and groceries. Voters know the best way to combat inflation is to vote out Democrats in November who rubberstamped Biden’s failed agenda.”

Background:

• June’s Consumer Price Index soared by 9.1 percent compared to last year, exceeding economists’ expectations and reaching a new  40-year high. 
• Core consumer prices – excluding food and energy – rose by 5.9 percent. 
• Real average hourly earnings fell 3.6 percent over the last year, marking the 15^th month in a row in which inflation has outpaced wages. 
• Inflation has wiped out wage gains every month since April 2021, right after Biden signed the $1.9 trillion “stimulus.”

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