WASHINGTON (WV News) — West Virginia’s senatorial representatives each released statements decrying news of the largest 12-month increase in consumer inflation in more than 40 years.
The U.S. Bureau of Labor Statistics on Wednesday published its monthly Consumer Price Index Report for June, announcing that consumer inflation had risen to 9.1%, the largest one-year jump seen since 1981.
“Today’s inflation data illustrates the pain families across the country are feeling as costs continue to rise at a historic rate,” said Sen. Joe Manchin, D-W.Va. “9.1% is cause for serious concern. Items like chicken, eggs and lunch meat have increased to new highs, while energy costs rose more than 40% in June, with those that can least afford it suffering the most.”
“It is past time we put our country first and end this inflation crisis,” Manchin said.
Leaders in Washington have ignored the serious concerns raised about the rising cost of inflation, the senator said.
“While Washington seems to now understand this reality, it is time for us to work together to get unnecessary spending under control, produce more energy at home and take more active and serious steps to address this record inflation that now poses a clear and present danger to our economy,” he said. “No matter what spending aspirations some in Congress may have, it is clear to anyone who visits a grocery store or a gas station that we cannot add any more fuel to this inflation fire.”
“While [President] Biden might be used to creating 40-year-high inflation every month, this is devastating for families across WV buying food and gas every day,” said Sen. Shelley Moore Capito, R-W.Va., in a tweet. “As Democrats & @potus work to pass their reckless tax-and-spending spree, a reminder: you can’t tax and spend your way out of this.”
The largest contributors to inflation were transportation, housing and food, which represented more approximately 85% of the 9.1% increase in consumer prices, according to information from Capito’s office.
Over the last year, transportation expenses have increased by nearly 20%, food expenses have increased 10.4%, and housing expenses have increased by 7.3%.
For food and energy products specifically, the gasoline price index rose by nearly 60% in June and marks 15 consecutive months with gas price inflation of over 40%.
The piped gas utility index rose by nearly 40% over the last 12 months, and the overall energy price index rose 41.6% compared to the prior year.
While food inflation rose 10.4% in June, the index for food consumed at home rose 12.2%, and the food-away-from-home price index rose 7.7%, all at the highest levels in over 4 decades.
Compared to January 2021, the CPI-U is up 13.3% and marks the largest level of inflation of any president during the first 18 months in office over the last 4 decades.
Since January 2021, the gasoline price index is up 89%, also the highest of any president in over four decades, and the food price index is up 12.6%, which is the highest of any president since Jimmy Carter.