Chairman Arrington Statement on January CPI Report

Chairman Arrington Statement on January CPI Report

WASHINGTON, D.C. - Today, the Bureau of Labor Statistics released the Consumer Price Index (CPI) report for January 2026, which shows inflation rose at a 2.4 percent annual rate, down from 2.7 percent in December. Core inflation, which excludes the volatile food and energy prices, increased 2.5% year-over-year, in line with expectations. Gas prices dropped 3.2 percent in the month of January.

House Budget Chairman Jodey Arrington (R-Texas) released the following statement on the January CPI report:

"Let's put the affordability debate to bed-Biden's failed policies of regulate and spend created the worst inflation in almost a half a century with inflation topping out at more than 9 percent during his term. In stark contrast, President Trump and Republican policies of less taxes, regulation, and spending have helped cut inflation to 2.4 percent-half the Biden average.

"On top of that, the economy grew at a 4.4 percent clip, according to the most recent GDP report, versus 1.9 percent in the fourth quarter of Biden's final year.

"Real wages have already increased 1.2 percent under Trump after declining 1.4 percent over Biden's presidency, and working families are enjoying the largest tax refund in United States history.

"President Trump and Republicans are Making America Affordable Again!"