JEFFERSON CITY— The Consumer Price Index (CPI) soared in September by 8.2 percent compared to last year, surpassing economists’ forecast, and meaning inflation remains at a near 40-year high.
Core consumer prices – excluding food and energy – rose by 6.6 percent from last year, the fastest pace in 40 years. Gas prices are up 18.2 percent. Electricity is up 15.5 percent. Groceries are up 13 percent. Milk is up 15.2 percent. Eggs are up 30.5 percent. And Airline Fares are up 42.9 percent. All this in addition to real average hourly earnings falling three percent over the last year, marking the 18th month in a row under President Biden in which inflation has outpaced wages.
“Inflation cost Missourians an additional $742 just last month,” said Nick Myers, Chairman of the Missouri Republican Party. “This is why it was so important for the Missouri legislature to pass Governor Mike Parson’s tax cut earlier this month. This is also why it’s important to elect Republicans to each of Missouri’s eight congressional seats and elect Eric Schmitt to be our next U.S. Senator. Right now, Democrats control all three branches of the federal government and they are using their power to spend recklessly which results in higher and higher inflation, lower wages, and is making life harder for Americans. On November 8th, we have the opportunity to elect and send the 51st vote to the U.S. Senate and break the hold Democrats have on federal power. With one vote we can put a stop to President Biden’s agenda.”