Washington, D.C.— Today, Senator Martin Heinrich (D-NM), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the Bureau of Labor Statistics (BLS) reported that prices measured by the Consumer Price Index (CPI) increased 0.2% in October. Data also show that annual prices grew 2.6% over the last year.   

“Democrats continue to fight to lower costs, and we saw promising signs last month that the cost of energy, groceries, and new vehicles stabilized. But with President-Elect Trump in office, the reality for Americans’ finances will become bleak.

“Trump and Republicans have led Americans to believe that their policies will lower costs, but make no mistake: imposing new tariffs, mass deportations, and politicizing the Federal Reserve will lead to skyrocketing prices. And that’s only a sample of the inflationary policies Republicans have laid out in their Project 2025 playbook. 

“Democrats have built a strong economy with smart policies that empower workers, grow the middle class, and lower costs for families. Meanwhile, Trump’s policies will only help his CEO friends and ultimately lead to a weaker economy. 

 “Democrats’ commitment to families will not end because of a new Trump administration. We’ll continue fighting to ease the financial burdens on families and ensure everyone across the country feels relief.”

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