RNC Statement on January Consumer Price Index

Real average hourly earnings fell 1.8 percent last year, marking the 22nd month in a row under Biden in which inflation has outpaced wages.

WASHINGTON – Today, Republican National Committee (RNC) Chairwoman Ronna McDaniel released the following statement on the January Consumer Price Index:
 
“As a direct result of Biden’s failed policies, paychecks are worth less and the cost of feeding a family continues to skyrocket. Inflation is up, wages are down, and it’s no wonder a record number of Americans say they are worse off under Joe Biden.”

• January’s Consumer Price Index soared by 6.4 percent compared to last year, exceeding economists’ expectations and remaining excessively high.
  • Core consumer prices – excluding food and energy – rose 5.6 percent compared to last year. 
  • Real average hourly earnings fell 1.8 percent since last year, marking the 22nd 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.”