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Washington, D.C. — Today, House Republican Leader Kevin McCarthy (CA-23) issued the following statement in response to the Consumer Price Index’s increase of seven percent over the past year:

“Back in July the Biden administration tried to brush off inflation concerns, suggesting it would all be just a ‘transitory’ inconvenience.

“Despite the glaring warning signs, President Biden’s only strategy has been to spend more and do nothing to get ahead of these soaring costs.

“Now, six months later, we know they were either misleading or completely incompetent in their assessment.

“Today’s news confirms the grim news that Americans are experiencing the highest inflation rate we have seen since 1982.

“This upward trajectory speaks for itself, and it all happened under Biden’s watch.”

Tags: Economy