Nick Langworthy: “My colleague's amendment makes sure that inflation assessments prepared under the bill will address a critical…”

“My colleague's amendment makes sure that inflation assessments prepared under the bill will address a critical inflationary measure-- the Producer Price Index. Now, when people think of inflation, they usually think of the Consumer Price Index. But the Producer Price Index is critical as well. It measures changes in the selling prices domestic producers receive for their output. These prices are from the very first commercial transactions for many products and services. Thus, changes in the Producer Price Index can signal that changes in prices are about to ripple through the economy. These should be accounted for in each inflation impact assessment that the bill requires. Madam Chair, I urge my colleagues to support this amendment, and I reserve the balance of my time.”