Inflation Continues To Rise: Americans Still Suffering In Biden’s Bad Economy

WASHINGTON, D.C. – Today, the Bureau of Labor Statistics released new inflation data for the month of August revealing consumer prices rose 0.1% and remain high with the year-over-year inflation rate at 8.3%.

The core inflation rate, of which includes all non-food and non-energy items, rose by 0.6% over last month and is up by 6.3% from last year; this is compared to last months increase of 0.3%, and the year-over-year measure of 5.9%. This core inflation increase is noteworthy as it may indicate inflation will continue to rise for the foreseeable months.

The burden on consumers across every sector of the economy continued for another month, with:

  • The gasoline index, up 25.6%;
  • The food index, up 11.4%;
  • The energy index, up 23.8%;
  • Used cars and trucks, up 7.8%; and
  • Utility (piped) gas, up 33%.

This CPI increase of 0.1% on a monthly basis (July 2022 to August 2022), is higher than last month which was unchanged for all items, reflecting:

  • The food index increased 0.8%.

“While families are struggling to put food on the table because of high prices and still-climbing year-over-year inflation, Democrat governors double down on their continued support for Joe Biden’s failed policies that do nothing but exacerbate the crisis,” said RGA Communications Director Jesse Hunt. “Republican governors won’t sit idly by while Biden and blue state governors falsely promote ‘relief’ that disproportionately harms middle and low-income Americans.”