RNC Statement on October Consumer Price Index

WASHINGTON – Today, Republican National Committee (RNC) Chairwoman Ronna McDaniel released the following statement on the October Consumer Price Index:

“Inflation is excessively high and is wiping out wage gains, leaving Americans with the difficult decision to pump gas or buy groceries. Joe Biden and Democrats’ wasteful spending and reckless agenda created this surging inflation, and now Republicans will work to fix it.”
 

• October’s Consumer Price Index soared by 7.7 percent compared to last year, remaining excessively high.
  • Core consumer prices – excluding food and energy – rose 6.3 percent compared to last year.
  • Real average hourly earnings fell 2.8 percent since last year, marking the 19th 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.”