For Immediate Release
April 12, 2022
Contact: Chris Mulcahey
This is the largest increase in forty years and higher than experts predicted
Decatur, IL. – Today, the consumer price index reported that March saw an eight and a half percent inflation rate, marking the highest rate of inflation since 1981, which continues to put stress on the U.S. economy.
The March increase was driven in large part by the surge in food and gas prices. Year-over-year, the price of gas has increased by forty-eight percent. The increased cost of living, decrease in labor force participation, and decline in real wages have created the perfect storm as we approach the brink of recession.
“President Biden has put our country in a terrible position,” said Jesse Reising, candidate for Illinois thirteenth district. “Middle-class families in Illinois will be paying an extra $5,200 in Biden Inflation Tax this year. This record inflation sends the clear message that economic growth and prosperity is not possible under the leadership of Biden and Democrats in Congress.”