RNC Statement on Biden's Remarks on Rising Costs

WASHINGTON – Today, Republican National Committee (RNC) Chairwoman Ronna McDaniel released the following statement on Joe Biden's remarks about rising costs:
 
"Biden's lies don't change his track record of failures and broken promises. Biden and Democrats turned a recovery into a recession, created 40-year high inflation, and sent gas prices skyrocketing because of his war on American energy. Costs are soaring, Americans are falling behind, and Joe Biden and the Democrats don't seem to care."

Background:

•  August’s Producer Price Index rose by 8.7 percent since last year. 
  • This marks the 17th straight month that wholesale inflation has been above 5 percent year-over-year. 
  • Core producer prices – which takes out food, energy, and trade – increased by 5.6 percent from last year.
• The Consumer Price Index soared by 8.3 percent in August compared to last year, meaning inflation remains at a near 40-year high.
• Core consumer prices – excluding food and energy – rose by 6.3 percent from last year, coming in well above  economists’ expectations. 
• Grocery prices increased by 13.5 percent in August, the largest increase in 43 years.
• Real average hourly earnings fell 2.8 percent over the last year, marking the  17th month in a row under Biden in which inflation has outpaced wages.
• Real wages have fallen every month since Biden and Democrats passed their wasteful $1.9 trillion “stimulus.”