Sen. Rick Scott, R-Fla., is blasting Democrat lawmakers for spending more money even as wholesale prices rose 7.4% in November from a year earlier.
The Associated Press reported that the latest year-over-year figure was down from 8% in October and from a recent peak of 11.7% in March.
On a monthly basis, the government said Friday that its producer price index [PPI], which calculates costs before they reach consumers, increased 0.3% from October to November for the third straight month, according to the AP.
And Scott tweeted on Friday: "As Democrats double down on spending MORE MONEY, today's PPI report showed wholesale inflation rose higher than expected.
"It's up 7.4% over last year, which was up 9.9% over the year before. Americans can't afford MORE."
Jeffrey Rodack ✉
Jeffrey Rodack, who has nearly a half century in news as a senior editor and city editor for national and local publications, has covered politics for Newsmax for nearly seven years.