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November’s CPI Report Is Nothing To Celebrate As Inflation Remained High

The Consumer Price Index (CPI), a key inflation index rose at an annual rate of rose 0.1% to  7.1%, in November on a seasonally adjusted basis after increasing 0.4% in October, the U.S. Bureau of Labor Statistics reported today.   MAKE NO MISTAKE: November's CPI report is nothing to celebrate. When Joe Biden took office, CPI was just 1.4% before skyrocketing to 40-year highs because of Biden and House Democrats' out-of-control spending to fuel their Far Left agenda. In July 2021, Joe Biden told the American people inflation was just "temporary" after the CPI increased to 5.4% and White House Chief of Staff Ron Klain called inflation a "high-class problem."    BIDEN’S ECONOMIC CRISIS BY THE NUMBERS:
  • Inflation is a tax on ALL Americans.
  • Families across the country are still paying more for just about everything:
  • Real average hourly earnings decreased 1.9%, seasonally adjusted, from November 2021 to November 2022.
  • The skyrocketing cost of goods and services will cost the average American household over $700 a month, which adds up to over $8,000 a year.
  • According to a recent survey, about half of Americans will cut back on holiday shopping this year due to rising costs.
    • Over 70% of Christmas tree growers plan to raise prices this year up to 15% to afford rising production costs.
  • The shelter index continued to increase, rising 0.6% over the month.
IT’S SIMPLE: After nearly two years of Democrats’ failed Far Left agenda, families are still struggling to afford necessities. The House Republican majority will fight inflation by reining in Joe Biden and House Democrats’ reckless government spending and promoting pro-growth tax policies.    Click HERE to read more about our Commitment to an Economy That’s Strong.