RNC Statement on May Producer Price Index

WASHINGTON - Today, Republican National Committee (RNC) Chairwoman Ronna McDaniel released the following statement on the May Producer Price Index:

“Prices are skyrocketing and real wages are falling, yet Biden doesn’t care. While families and small businesses are paying the price – facing one of the most expensive summers on record – Biden and Democrats refuse to acknowledge the problem and insist the economy is fine while millions of Americans suffer.”

Background:

• May’s Producer Price Index rose by 10.8 percent since last year, a near record high.
  • Core producer prices – which takes out food and energy – increased by 8.3 percent.
• Today, U.S. gas prices reached yet another new record high of $5.02 per gallon according to AAA, having risen or stayed level for more than 50 consecutive days.