LANSING, MICH – The Michigan Republican Party issued the statement below following the release of producer price indexes from the U.S. Bureau of Labor Statistics depicting astronomically high producer prices:
“It’s no surprise that producer prices spiked 9.8 percent from last year at this time, marking the 16th straight month wholesale inflation has been above 5 percent year over year,” said Gustavo Portela, MIGOP Deputy Chief of Staff and Communications Director. “Gretchen Whitmer and Joe Biden are putting the squeeze on working-class families across our state. Real disposable income is lower than when Joe Biden and Gretchen Whitmer each took office, and real wages have fallen every month on a year-over-year basis since Joe Biden and Gretchen Whitmer forced through their 1.9 trillion dollar stimulus. Together, they continue to be completely out of touch with the pain Michiganders are feeling and it’s why this fall we’re going to elect Tudor Dixon to right the ship here in Michigan and bring back real prosperity and opportunity for Michiganders.”
You can view the producer price spike here, marking the 16th straight month wholesale inflation has been above 5 percent year over year.