House Budget Committee Chairman Jodey Arrington said on Mar. 12 that the latest Consumer Price Index (CPI) report for February 2026 shows inflation holding steady at a 2.4 percent annual rate, with core inflation rising by 2.5 percent year-over-year.
The CPI is an important measure of changes in consumer prices and is closely watched by policymakers and the public to assess economic conditions. The House Budget Committee, which Arrington chairs, plays a key role in overseeing federal spending and developing budget resolutions to promote fiscal responsibility, according to the official website.
Arrington said, "Under President Biden’s failed economic policies and unbridled spending, prices skyrocketed over 20 percent and annual inflation averaged 5.0 percent." He continued, "Thanks to President Trump and Republican leadership in Congress, Americans are finally getting relief. Under Trump, annual inflation is averaging 2.6 percent—nearly half the Biden average, and core inflation is at its lowest level since early 2021." Arrington added, "President Trump and Congressional Republicans are Making America Affordable Again, and Trump’s historic presidency is proof America First, pro-growth policies work. Now, we must finish the job in reconciliation 2.0."
The House Budget Committee is affiliated with the U.S. House of Representatives and includes members from key committees such as Ways and Means and Appropriations according to the official website. The committee has influenced budget management through use of the reconciliation process according to the official website.
In addition to preparing annual budget resolutions and guidelines for spending targets according to the official website, the committee collaborates with the Congressional Budget Office for independent analyses according to the official website. Arrington has served as chairman of this committee according to the official website.
Looking ahead, observers will be watching how Congress addresses future budget challenges through processes like reconciliation.
