Missouri Republican Party Releases Statement on August Consumer Price Index

Jefferson City, Mo. — The Missouri Republican Party has put out a statement regarding the newly released August Consumer Price Index (CPI) numbers. The CPI soared in August by 8.3 percent compared to last year, meaning inflation remains at a near 40-year high.

Core consumer prices – excluding food and energy – rose by 6.3 percent from last year. Grocery prices increased 13.5 percent in August, the largest increase in 43 years. Electricity skyrocketed 15.8 percent, the largest spike since 1981. Real average hourly earnings fell 2.8 percent over the last year, marking the 17th month in a row under President Biden in which inflation has outpaced wages. Real wages have fallen every month since Biden and Democrats passed their wasteful $1.9 trillion “stimulus.” The newly released CPI numbers came out the same week the Missouri legislature convenes for a special session, called for by Governor Mike Parson, to pass an income tax cut for all Missourians.

“While Biden is considered the ‘Pay Cut President,’ Governor Mike Parson is our ‘Tax Cut Governor,’” said Missouri Republican Party Executive Director, Charlie Dalton. “We have a Democrat President raising the cost of living, and a Republican governor cutting taxes at the same time. The difference between Democrat and Republican policies has never been so obvious. Missouri voters see the difference, they know we can’t afford Democrats’ obsession with spending. They will vote accordingly in November.”

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