[Congressional Record Volume 168, Number 9 (Thursday, January 13, 2022)]
[House]
[Page H181]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                            INFLATION SURGE

  (Mr. HILL asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. HILL. Madam Speaker, I rise today to bring attention to the 
latest Consumer Price Index data released by the Bureau of Labor 
Statistics just yesterday.
  This new data shows a 7 percent annual increase in inflation--the 
largest 12-month increase since 1982. The last time inflation was this 
out of control, Michael Jackson had just released ``Thriller''. So from 
moonwalking to now sleepwalking with President Biden, we have 
continuously seen negative real wages, meaning that our pay is actually 
decreasing when you account for inflation.
  The President's only idea is to print and spend more money. Gasoline 
is up 50 percent. Propane, kerosene, and firewood are up 34 percent; 
and beef, veal, and bacon are up 18 percent. Higher inflation is 
eroding the true purchasing power for all American families, and these 
record-breaking CPI numbers underestimate the real cost of inflation.
  Americans need leadership that will prioritize getting our economy 
and our Nation back to its pre-pandemic performance.

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