Statement on the Consumer Price Index

March 23, 1983

Today's inflation report brings more good news to American wage earners and consumers. Consumer prices actually fell in February by 0.2 percent, and for the past year, we have reduced the inflation rate to 3.5 percent -- the best record in more than a decade. This steady progress confirms once again that we are putting inflation back in its cage and that our economy is on the mend.

Now it is more vital than ever that America's elected leaders here in Washington work together to hold down spending and taxes and restrain the growth of government. This message must not be lost on the House of Representatives as it prepares for a major vote today on the budget.