Joe Manchin, a Democratic senator from West Virginia, issued a warning this week that higher prices endanger the American economy.
For more than a year, Washington has overlooked the serious issues brought up by me and others about the rising cost of inflation, according to Manchin. While it appears that Washington understands this fact now, it is time for us to work together to control needless spending, produce more energy at home, and take more proactive and significant steps to address this historic price increase that now poses a clear and present risk to our economy. “Regardless of what expenditure goals certain lawmakers may have, it’s obvious to anyone who visits a supermarket or a gas station that we can’t add any more gasoline to the inflation fire.”
The federal government’s Bureau of Labor Statistics released a new CPI report this week, which revealed that inflation has continued to rise.
“The all items index increased 9.1 percent before seasonal adjustment over the previous year, according to the report. The CPI, on a seasonally adjusted basis, for All Urban Consumers (CPI-U) rose 1.3 percent in June after rising 1.0 percent in May.”
Florida Governor Ron DeSantis, a well-known Republican figure running for re-election this year in the Sunshine State’s gubernatorial election race, addressed the high prices.
DeSantis tweeted, “Brutal inflation report shows a staggering 9.1% year-over-year increase. Bidenflation is wreaking havoc on employees, families, and small businesses as a result of anti-American energy policy, excessive borrowing, printing of money, and harmful federal rules.”
“Unacceptably high” and “out-of-date,” are the words used by Biden to describe the headline inflation rate.
“Today’s data does not reflect the whole impact of roughly 30 days of gas price decreases, which have cut the cost per gallon by around 40 cents since mid-June. Those savings give precious breathing room to American households. And, while other commodities like rice have dropped significantly since this publication,” Biden stated.
The national average price of a gallon of regular gas as of today is $4.631, according to the AAA. That number has decreased marginally since last month when it reached as high as $5.016.