Crapo Statement on Inflation Reaching Nearly 40-Year High
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.”
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