WASHINGTON, D.C. – Today, U.S. Senator John Barrasso (R-Wyo.), chairman of the Senate Republican Conference, issued the following statement after the January 2023 Consumer Price Index (CPI) revealed inflation has risen 14.4% since Joe Biden took office in January 2021.
“Record-high prices and rising interest rates are making it harder for families to keep up. A week ago, Joe Biden told Americans that prices aren’t actually high. He told us not to believe our lying eyes and empty wallets. Yet families can’t afford to ignore the disastrous impacts of Democrat policies. Senate Republicans are working to make life more affordable for all Americans. That means stopping reckless Democrat spending and cutting burdensome red tape.”
- Prices have gone up 14.4% since Joe Biden took office.
- Americans’ personal savings rate is near a 15-year low at 3.4%.
- The Fed has raised interest rates eight times in response to soaring inflation – the fastest rate hike in 40 years.