Crapo Statement on Historic Increase in Wholesale Price Inflation

Webp adobestock 89829810
Adobe Stock

Crapo Statement on Historic Increase in Wholesale Price Inflation

The following press release was published by the United States Committee on Finance Ranking Member’s News on April 13. It is reproduced in full below.

Washington, D.C--U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) issued the following statement after the Producer Price Index (PPI) release showed inflation for March jumping to 11.2 percent--a record high on a year-over-year basis.

“Today’s record surge in wholesale prices will hit manufacturers, small businesses and consumers when they can least afford it. U.S. inflation has outpaced inflation in other developed countries, in no small part due to the outsized, unnecessary spending in the American Rescue Plan. It is reckless to pursue additional inflationary spending."

Source: Ranking Member’s News

More News