Sen. Rand Paul, R-Ky., released a new report Tuesday on the troubling effects of inflation on low and middle-income families as well as small businesses.

“In recent months, prices on nearly everything from gas, food, and clothes to electricity, car prices, and rent, have all increased, and unfortunately it’s only going to get worse,” Paul said in a statement released first to Fox News Digital. “Congress needs to realize that further spending at this time of rapidly rising prices is only going to continue the trend of rising prices on this nation’s already vulnerable businesses and families.”