RNC Statement on March Consumer Price Index

Real average hourly earnings fell 0.7 percent since last year, marking the 24th 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 March Consumer Price Index:
 
“Inflation is up, wages are down, and Americans are struggling to stay afloat in Biden’s failed economy. Democrats have neither answers nor solutions – their policies only worsen the economic burden on families, yet Biden wants taxpayers to foot the bill for his $6.9 trillion tax-and-spending spree that will send inflation soaring even higher.” 

Background:

• March’s Consumer Price Index soared by 5 percent compared to last year, remaining excessively high and well above the Fed's average target of 2 percent.
  • Core consumer prices – excluding food and energy – rose 5.6 percent compared to last year.
  • Real average hourly earnings fell 0.7 percent since last year, marking the 24th 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.”