Washington, D.C.–U.S. Senate Finance Committee
Ranking Member Mike Crapo (R-Idaho) released the following statement after the
December Consumer Price Index (CPI) release showed inflation surged 7 percent
year over year, the fastest rate since 1982.
“Consumer price inflation accelerated to 7 percent in
December, the highest rate in nearly 40 years. The high and accelerating
inflation experienced under the Biden Administration, partly as a predicted
result of reckless spending legislation passed by Democrats last year,
represents a stealth tax that continues to threaten Americans’ pocketbooks
through higher costs at the pump and in grocery aisles.”