April 12,2022

Crapo Statement on Surging Inflation

Broad-based inflation existed prior to invasion of Ukraine

Washington, D.C--U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) released the following statement after the Consumer Price Index (CPI) release showed inflation surged 8.5 percent year over year in March, the fastest rate in more than 40 years.  

“Inflation continues to accelerate and hit highs not experienced in 40 years.  This inflationary environment preceded Russia’s invasion of Ukraine, and more misguided energy policies, reckless spending and sky-high taxes are the last things hardworking Americans need.”