WASHINGTON, D.C. —Today, the Bureau of Labor Statistics announced that inflation as measured by the consumer price index (CPI) on all items increased by 3.2% for the 12 months ending in February—up from 3.1%. Core inflation, which excludes volatile energy and food prices, held steady at a pace of 3.8% in February from a year prior. The shelter and food indices increased 5.7% and 2.2%, respectively, over the past 12 months. Real wages increased by 0.5%.

Patrice Onwuka, director of the Center for Economic Opportunity (CEO) at IWF, issued the following statement:

“Shelter, utilities, and food prices are too high. Today’s worrisome inflation report indicates that overall price increases are accelerating faster than they should be and remain at levels far above what they were before the pandemic. Families and households cannot get ahead when persistent elevated inflation, high interest rates on mortgages, rising rent prices, and shrinking paychecks make life unaffordable. Many women struggle to meet household needs and feel locked out of generational milestones such as homeownership. They worry about financial security in retirement for their parents and themselves.

“Given so many important priorities that workers have to balance from caregiving for children and aging parents to managing their own health conditions and disabilities, Americans, especially women, need to access as many different kinds of work arrangements as possible. Our dynamic economy is generating new flexible opportunities, including self-employment, freelancing, and gig work. However, the Biden Administration is working overtime to destroy flexible work. The new labor rule limiting independent contracting nationwide will rob women of flexible work opportunities and households of vital income-generating opportunities at the time that they need them most.” 

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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.