RNC Statement on May CPI Numbers

May’s Consumer Price Index surged by 8.6 percent compared to last year – a new 40-year high. 

WASHINGTON – Today, Republican National Committee (RNC) Chairwoman Ronna McDaniel released the following statement on Biden’s devastating May Consumer Price Index (CPI). Since Biden and the Democrats passed their $1.9 trillion spending bill, inflation has outpaced wages every single month.

“Inflation is up and real wages are down. In Joe Biden’s America, everyday essentials are priced as luxury items and Americans are tired of paying the price for Biden’s failed agenda. The families who are struggling to put food on the table, fill their cars, and find baby formula deserve answers, yet Biden doesn’t care.”

• May’s Consumer Price Index surged by 8.6 percent compared to last year – a new 40-year high. 
  • Core consumer prices – excluding food and energy – rose by 6 percent since last year. 
• Real average hourly earnings fell 3 percent in May, with rising prices eating up any wage growth. 
• Since Biden’s $1.9 trillion “stimulus” was passed, inflation has outpaced wages every single month.
• Today, U.S. gas prices reached yet another new record high of $4.99 per gallon according to AAA.