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. November’s PPI data shows that there has been a significant rise in inflation during the Biden-Harris administration. Over the year, PPI has increased 3.0% and since President Biden and Vice President Harris took office, PPI inflation is up 20.8% percent.
Senator Rick Scott said, “Bidenomics has been a complete failure for the American people these past four years. Record inflation has forced families to cut back spending, seniors to come out of retirement and small businesses to shut down. Biden-Harris price hikes have plagued Americans’ wallets and savings accounts, and that has all played a role in The American Dream being erased during the failed Biden administration. Under Biden, the hopes for a brighter future dwindled, but with President Trump back in office, and Elon Musk and Vivek Ramaswamy heading the Department of Government Efficiency (DOGE), there is renewed hope for a government that works for the American people instead of sticking them with the cost of reckless spending and massive bureaucracy. That’s why I am a founding member of the Senate DOGE Caucus and continue to fight like hell every day to bring down prices and end all the reckless spending coming out of Washington. The American people are more ready than ever for President Trump to get to work, bring prices down and end the inflation nightmare the Biden-Harris administration has caused.”
According to today’s PPI release, price increases over the year included:
- Fruit: +11%
- Vegetables: +34.3%
- Eggs: +80.2%
- Beef: +6.7%
- Pork: +13.7%
- Coffee: +12.9%