On the recordDecember 14, 2021
Madam President, on Friday, the Department of Labor reported that inflation had hit a near-40-year high, confirming what many American families have been feeling in their wallets for many months. The soaring cost of virtually everything, from gasoline to groceries, is a growing crisis that has hit families across our Nation. The numbers are alarming. During the past year, the Consumer Price Index, which measures the price of goods and services, jumped by nearly 7 percent. That is the highest rate since 1982. It represents the sixth consecutive month of inflation exceeding 5 percent. The goods experiencing the greatest increases read like a list of everyday essentials. Energy costs are up by 33 percent. Used vehicles are up by 31 percent. Hamburger costs are up by 14 percent. Milk, eggs, baby food, furniture, and many other necessities all cost more, and those prices are simply unsustainable for many working families. The pain is being felt across the Nation, including in my State of Maine. I have heard from many Mainers worried about how they will be able to afford to heat their homes this winter. The average price of heating oil in Maine is currently $3.15 per gallon, compared to $2.11 per gallon this time last year. While the amount of heating oil a household uses varies considerably, a typical Maine family will spend nearly $1,000 more this year on home heating oil.…





