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 3.4% for the 12 months ending in April. Core inflation, which excludes volatile energy and food prices, held steady at a pace of 3.6% in April from a year prior. The shelter index increased 5.5% and inflation on food remained at 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:
“Prices are high—painfully high—for many women struggling with the ongoing affordability crisis. This month’s 3.4% Consumer Price Index reading affirms that inflation is not under control and not falling back to pre-pandemic levels. Reports that groceries, rent, and insurance are more expensive again for another month is a tune that women are tired of hearing. High mortgage interest rates lock them out of the dream of homeownership, while high credit card interest rates are ongoing hurdles to climbing out of debt.
“President Biden lied recently when he claimed that inflation was 9% when he took office. The CPI was 1.4% in January 2021 and skyrocketed under his leadership. Women should know that radical policies driven by reckless, excessive federal spending lead to unaffordability. Three years later, households are still paying the price at the kitchen table and the gas pump.
“Meanwhile, the Biden administration is out to destroy flexible, gig work and self-employment which help women make ends meet. The new federal independent contractor rule severely restricts who can be classified as an independent contractor. From writers to makeup consultants to real estate agents, the Biden administration is attacking working women who depend on flexibility to raise children, care for aging parents, or manage their own health. Congress cannot let this rule stand. It’s time for Washington to fight for women’s flexibility, not against it.”
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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.