Boyle Statement on December 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 December of 3.4 percent:

“The CPI data for December highlights a year of significant progress in the fight against inflation,” said Ranking Member Boyle. “Inflation dropped 3 percentage points since January 2023, and is down nearly 6 percentage points from the peak of 9.1 percent in June of 2022. Those who argued we needed a devastating recession with skyrocketing unemployment to combat inflation could not have been more wrong – the last 12 months have shown a soft landing can be achieved without harming American workers.”

“Even as we continue to make progress on inflation, there are still too many families struggling to make ends meet. That's why President Biden and Congressional Democrats took action to cap prescription drug prices for seniors and lower energy prices – and why we are still working to lower costs and take on corporate price gouging by eliminating junk fees. After seven months of needless chaos and confusion, House Republican leadership has finally decided to honor the bipartisan budget agreement as they should have done all along. Now, it's time for them to stop wasting time on partisan stunts and start working with Democrats to grow our economy and deliver for American families.”

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