Cantwell Statement on Inflation Rising to 3.8%

Cantwell Statement on Inflation Rising to 3.8%

WASHINGTON, D.C. - Today, U.S. Senator Maria Cantwell (D-WA), ranking member of the Senate Committee on Commerce, Science, and Transportation, and senior member of the Senate Finance Committee, released this statement after data released by the U.S. Bureau of Labor Statistics showed that the Consumer Price Index has risen 3.8% over the last 12 months:

"American families got another painful reminder this morning that the cost of living continues to be unaffordable. Inflation is up 3.8% and the pressure on household budgets is getting worse. This Administration is waging a war in the Middle East that has sent oil and gas prices through the roof. Every business and every consumer is feeling the pain. Instead of planning a summer vacation, many families are trying to just figure out how to pay their bills. While in Congress, instead of doing something to ease these financial burdens, Republicans are getting ready to spend $1 billion to build a White House ballroom."

The Consumer Price Index increased 0.6% in April after rising 0.9 percent in March, translating to a year-over-year increase of 3.8% percent. Energy prices are also up 17.9% over last year; the price for gasoline is up 28.4%; the price for fuel oil is up 54.3%; and electricity is up 6.1%. Food prices have also risen by 3.2%, and housing costs have risen by 3.3% over last year.