August CPI Report Shows Decrease In Prices, Inflation Improving
Today, the U.S. Bureau of Labor Statistics released the August Consumer Price Index (CPI) report, which shows that the rate of inflation declined for the second month in a row. This comes as the president and Democrats in Congress celebrate the passage of the Inflation Reduction Act, which will further ease the burdens of high prices for working people.
Unrig Our Economy campaign director Sarah Baron, issued the following statement in response:
“The August CPI report shows that the economy is heading in the right direction, inflation is improving, and working people are finally feeling some economic relief. Although this is welcome news, there is still more work to do to ease the burden of high consumer prices, which have continued to climb despite the falling rate of inflation. To bring down prices for working people, corporations must be held accountable for using the cover of inflation, the pandemic, and the war in Ukraine to price gouge consumers and pad their bottom lines. We should continue fighting for an economy where corporations pay their fair share, while celebrating that the economy is slowly returning to balance.”