Boyle Statement on June 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 June of 3.0 percent:

“The United States’ world-leading recovery hit another important milestone today as data shows inflation has declined every single month for the last year and is now at its lowest point since March of 2021,” said Ranking Member Boyle. “This is the second month in a row that inflation has fallen by nearly a full percentage point and leading indicators point to a strong, stable economy buoyed by a robust labor market — an outcome that seemed unimaginable during the depths of the COVID pandemic. In President Biden’s economy, prices are falling as wages are rising, unemployment remains low, and we’ve added over 13 million new jobs while lowering families’ everyday costs. This is progress every American can be proud of.”

“While President Biden and Congressional Democrats fight to grow the middle class and help working families keep more of their hard-earned paycheck, House Republicans are focused on handing out special tax giveaways to big corporations and protecting wealthy tax dodgers,” Boyle continued. “An economy that puts the wealthy and well-connected above working families will never be strong, and we won’t allow extreme MAGA Republicans to subsidize their wealthy and well-connected friends by slashing the critical investments that have powered the fastest and most equitable recovery in recent memory.”

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