Brady: Double-Digit Price Hikes Hitting Main Street Businesses, Signalling More High Inflation Ahead for Consumers

The following press release was published by the U.S. Congress Committee on Ways and Means on May 16. It is reproduced in full below.

Brady: Double-Digit Price Hikes Hitting Main Street Businesses, Signalling More High Inflation Ahead for Consumers

May 12, 2022 - Blog - Press Releases - Select Revenue Measures - Worker and Family Support

Wholesale prices jumped 11 percent from the previous year, according to a new Producer Price Index (PPI) report from the Department of Labor. Ways and Means Republican Leader Rep. Kevin Brady (R-TX) issued the following statement:

“When Main Street businesses get hit with double-digit increases in prices, consumers are the ones who ultimately pay.

“This is the fifth straight month of wholesale price hikes by over 10 percent under President Biden - and he hasn’t proposed one real solution to address the raging inflation he birthed.

“Families and workers should brace for higher prices ahead."

Source: U.S. Congress Committee on Ways and Means