WASHINGTON, D.C. — Today, the Bureau of Labor Statistics announced that the consumer price index rose 0.5 points in December 2021. Inflation on all items rose 7% over the past 12 months — the fastest pace in 40 years. Inflation rose for every major category of spending items with significant increases in gas (+49.6%), utilities (+24.1%), used cars (+37.2%), food (+6.3%), apparel (+5.8%), and shelter (+4.1).
Patrice Onwuka, director of the Center for Economic Opportunity at Independent Women’s Forum, issued the following statement:
“Like many moms, I am frustrated by the bare shelves plaguing my local grocery store and big box retailers. We are paying 6.3% more for grocery basket goods while shelling out about 50% more to fuel our cars. On top of this, families face severe shortages of staples like baby formula, meat and poultry, and paper goods — leaving families scrambling to meet their families’ most basic dietary and sanitary needs.
“President Joe Biden claimed victory and that he solved the supply-chain crisis, with Press Secretary Jen Psaki declaring, ‘We saved Christmas.’ It was no Christmas miracle after all. Rising prices didn’t abate, and food shortages are back with a vengeance in January. The dual hardships are harshest for the elderly on fixed budgets and working-poor families. Inflation is a tax on all Americans but punishes those with little means the most.
“Americans cannot swallow higher prices and make hard choices indefinitely. Washington’s inflationary policies landed us here, and we need Washington to move out of the way.”
Independent Women’s Forum released a policy paper on inflation — ”Understanding Inflation” — in December 2021, click here to read it.
Independent Women’s Forum is dedicated to developing and advancing policies that aren’t just well intended, but actually enhance people’s freedom, choices, and opportunities.