Prices Keep Rising

Biden's policies are strangling American businesses and families. 

New data from the Labor Department shows producer prices have spiked at the highest pace on record. This is the 3rd month in a row producer prices have reached a new record high.

• April: 6.2% on an annual basis.
• May: 6.6% on an annual basis.
• June: 7.3% on an annual basis – the new highest jump ever recorded.

• In June, consumer prices “zoom[ed] up” at a 5.4% annual rate - the fastest rate in 13 years.
• Core inflation rose 4.5%, the highest jump since 1991.
• Because prices are rising at the highest pace in decades, real wages are going down.
  • On an annual basis, real average hourly earnings decreased by 1.7%, and real average weekly earnings fell 1.4%.

• If nothing changes, economists predict rising prices are “here to stay for years.”
• 48% of small businesses have raised their prices, the largest percentage in 40 years.
• On Biden’s watch, the money in your pocket is worth less and less by the day – that’s the Democrats’ hidden tax on all Americans.
• Under Joe Biden’s presidency, we are paying more for just about everything. And it is only going to get worse.
  • The price of used cars and trucks has increased 45.2% annually. This is the largest change ever reported.
  • Restaurant prices are 4.1% higher than last year.
  • Home prices have increased by about 15%.
  • Gas prices haven’t been this high since 2014.
  • Airfare rates have increased about 10% per week.
• In Biden’s America workers, families, and businesses are all impacted by rising prices.