Chattanooga, TN – U.S. Representative Chuck Fleischmann (TN-03) released the following statement in response to the latest Consumer Price Index (CPI), showing a 7.5 percent annualized inflation rate for January.
“January was yet another month of historic inflation. Today’s report from the Bureau of Labor Statistics (BLS) confirms yet again that inflation is not transitory and is out of control. Tennesseans are feeling their wallets being squeezed whenever they try to buy necessities from clothing, to food, to gas,” said Rep. Fleischmann.
“Inflation is being caused by our nation’s supply chain crisis and the Biden Administration’s and congressional Democrats’ uncontrolled borrowing and spending. It’s time to get back to basic economics – lower the government’s spending rate, cut taxes on employers and employees to encourage growth, slash regulations, and promote our free-market economic system. Tennesseans and the American People deserve better from their government and the Democratic party that controls the House of Representatives, the Senate, and the White House.”