Boyle Statement on August Inflation Data

WASHINGTON, DC — Today, Pennsylvania Congressman Brendan F. Boyle, Ranking Member of the House Budget Committee, released the following statement after the Bureau of Labor Statistics (BLS) reported an annualized inflation rate for August of 3.7 percent:

“Today's CPI data shows core inflation continuing to moderate, with price growth sharply down from its peak in mid-2022,” said Ranking Member Boyle. “Unfortunately, headline inflation numbers are being impacted by a spike in the volatile global energy market that's squeezing American families at the pump. Though Republicans continue to champion legislation padding Big Oil's profits, the historic investments enacted by Democrats through the Inflation Reduction Act will lower energy costs and reduce our nation's reliance on foreign oil.”

“Instead of taking action to relieve the American people's pain at the pump and lower the cost of living, extreme MAGA Republicans are hard at work forcing devastating, draconian budget cuts through Congress,” Boyle continued. “Their broadly unpopular economic agenda is pushing us towards another costly, Republican-led government shutdown — one that can be easily averted by honoring the bipartisan budget agreement they negotiated only months ago.”

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