KENTUCKY — The U.S. inflation rate continues to soar at its fastest pace in more than 40 years, with costs for food, gas, housing and other necessities reaching new record highs.

The U.S. Labor Department released a report showing the consumer price index jumped 8.5% in March from 12 months earlier — the biggest year-over-year increase since December 1981.

"This is really hurting everyday average Americans. Certainly my constituents who simply cannot afford the Biden administration's inflation tax, and make no mistake, this is Joe Biden's problem that he created. When Joe Biden took office, inflation was less than 2%. We had price stability, but a combination of factors: bad fiscal policy and yes, bad monetary policy and the Federal Reserve is a bearer of some of the blame here as well," said U.S. Rep. Andy Barr (R-KY 06).

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