INDIANAPOLIS – The U.S. Bureau of Labor Statistics announced that annual inflation has fallen for 11 months in a row. Hoosiers are continuing to feel the real impact of a healthy economy. An economy tailored to their needs – both in and outside of the workforce. The Indiana Democratic Party released the following statement on the report out yesterday:
“This week’s Consumer Price Index report reaffirms the strong economy President Biden has built with record-low unemployment and historic investments in manufacturing and the industries of tomorrow. Inflation has fallen for 11-straight months, and is at its lowest point in over two years, meaning more breathing room for Hoosier families” said Indiana Democratic Party Chairman Mike Schmuhl.
“With unemployment rates reaching historic lows across the state, and inflation falling fast, Hoosiers are witnessing the integral role Democratic leaders – such as Representatives Frank Mrvan and André Carson – are playing in accelerating a vision for a better economic future for all demographics, including young people, Black women, and people with disabilities. Republicans, on the other hand, remain keen on giving handouts to special interests and big corporations that would increase the debt by hundreds of billions.”
Here’s a glimpse at how President Biden and Democrats are bringing down costs for American families:
- Creating more than 13 million jobs, bringing unemployment to a historic low.
- Driving annual inflation down for 11 months, bringing it to its lowest level in more than 2 years — and less than half what it was last June.
- Investing in clean energy and bringing energy prices down 11% over the last year while lowering gas prices – which are down about $1.40 from their peak after Putin’s war.
- Lowering prices at the supermarket, with grocery prices trending down.
- Taking on Big Pharma and saving millions of Americans money by lowering prescription drug costs.
- Spurring a huge manufacturing boom with more than $470 billion in private sector investments and nearly 800,000 good-paying manufacturing jobs.
- Supporting small businesses, with more than 10 million small business applications, the two highest years on record for new business formation.