U.S. Sen. Martin Heinrich

JEC News:

WASHINGTON, D.C. — Tuesday, U.S. Sen. 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 0.3% in January. Data also show that annual prices grew 3.1% over the last year. 

“While prices rose slightly last month, overall inflation is nearly a third of where it was two years ago. Our economy is still rebalancing, but it remains the strongest in the world, with wages and jobs both higher than pre-pandemic. 

“But that doesn’t mean Americans aren’t still feeling the effects of increased prices – mostly thanks to artificial outsized price hikes on things like groceries. Wealthy executives are benefitting from record profits while working families pay the price. Democrats are working to protect consumers and lower prices in other areas by pushing down the cost of prescription drugs and cracking down on junk fees. I’ll keep working to make sure cost savings are passed down to families in New Mexico and throughout the country.”