WASHINGTON, D.C. — Today, the Bureau of Labor Statistics announced that inflation on all items increased 8.3% for the 12 months ending in April, a smaller increase than the 8.5% figure for the period ending in March. The food index increased 9.4%, the largest 12-month increase since the period ending April 1981.
Independent Women’s Forum produces a monthly Inflation Tracker on popular household items that women purchase.
Patrice Onwuka, director of the Center for Economic Opportunity (CEO) at Independent Women’s Forum, issued the following statement:
“An 8.3% inflation rate is nothing to celebrate; it’s still higher than expected and signals that Americans will struggle under higher costs for some time to come. Americans are spending a 40-year high on food overall, including spending 11.8% more on the food they consume at home. Feeding their families is one of the most basic responsibilities that parents have. Stubbornly-high inflation that forces parents to spend 22.6% more on eggs, 9.1% more on bread, and 14.7% more on milk is a tax on household budgets – one that is especially costly for poor and vulnerable families.
“Moms and dads of newborns and young kids are panicked. Not only are they paying outrageous amounts on baby formula to feed their babies, but, due to shortages, they simply can’t find it in many places. Some 40% of baby formula is out of stock nationwide, forcing parents to go to great lengths to secure basic nourishment for their babies. As a mother who supplemented breastfeeding with baby formula for two babies, I know how critical this issue is.
“President Joe Biden had a chance to acknowledge this hardship in his speech yesterday. He could have shown empathy to parents, taken some responsibility for how his policies have contributed to rising prices, and presented a plan that did not include more inflationary spending. We need more than passing the buck, we need real leadership.”
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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.
Independent Women’s Forum’s Center for Economic Opportunity (CEO) aims to educate the public about how government policies impact people’s opportunities for economic development and upward mobility.