MADISON — A new report shows Wisconsinites are already seeing relief from rising costs with the national inflation rate slowing for the 12th month in a row. 

The latest report, recently released by the U.S. Bureau of Labor Statistics, shows inflation fell to its lowest annual rate in two years last month. This comes at a time when families and communities are already feeling the impact of the Inflation Reduction Act and investments from the Bipartisan Infrastructure Law. 

“After years of rising costs, the Inflation Reduction Act and Bipartisan Infrastructure Law are rebuilding our economy and delivering relief to Wisconsin families,” said Opportunity Wisconsin Program Director Meghan Roh. “Not only are families and small businesses seeing relief from high costs, our economy is being revitalized with a foundation that will help our state succeed for decades to come.”

Wisconsin’s Republican members of Congress, including Bryan Steil, Tom Tiffany, and Mike Gallagher, voted against the Inflation Reduction Act and Bipartisan Infrastructure Law. Despite their opposition, critical investments are already transforming their districts and creating new economic opportunities. 

Over 170 infrastructure projects have already been announced across the state, with more than $2.8 billion in federal investments transforming communities. This includes projects to repair and replace roads and bridges, expand public transportation, improve ports and airports to create new economic opportunities, and improve water quality by replacing lead pipes and addressing PFAS contamination. 

Meanwhile, the Inflation Reduction Act is creating jobs and delivering lower prescription drug prices for many Wisconsin families. Thanks to a new $35 cap on insulin prices and rebates for many prescription drugs whose costs have risen faster than the rate of inflation, Medicare recipients are able to afford the medication they need.