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 2.8% for the 12 months ending in February, a slight decline from 3.0% in January. Prices overall are up over 21.9% since January 2021—the start of the Biden-Harris White House.
Core inflation, which excludes volatile energy and food prices, rose at a higher pace of 3.1% in February from a year prior, decreasing slightly from the previous month’s rate of 3.3%. Housing inflation (shelter) increased by 4.2%, and food accelerated by 2.6% over the past 12 months, up slightly from 2.5% in January. Real average weekly wages increased by just 0.1%.
Carrie Sheffield, senior policy analyst for the Center for Economic Opportunity at Independent Women, issued the following statement:
“Inflation easing slightly is a positive sign for our economy, but there is still much work to be done.
“The Trump Administration rightly suspended enforcement of invasive, burdensome reporting requirements that increases inflation by saddling small businesses with unnecessary red tape.
“A new study shows President Trump’s deregulation efforts since taking office have saved Americans $180 billion — or $2,100 in savings for a family of four.
“As agency heads work with the Department of Government Efficiency to root out waste, fraud, and abuse, they should not be halted by a needless government shutdown. An overwhelming 75% of Americans support the Trump deregulatory, cost-cutting agenda. This agenda will continue to lower prices for Americans.
“Additionally, President Trump and Members of Congress are also working to pass renewed tax reforms that will improve wage growth and ensure families keep more of their hard-earned money.
“We look forward to seeing these efforts bear fruit and continue to ease inflation for American families in the months ahead.”
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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.