“Main Street America's signaling inflation is still their top concern, and they see no relief in sight."
WASHINGTON, D.C. (Texas Insider Report) — “When the Federal Reserve's 'target inflation rate' is 2%, there's nothing to celebrate when the CPI Data comes in higher at 5%,” said Chairman Roger Williams (R-TX,) who serves as Chairman of the House Small Business Committee following the release of the latest Consumer Price Index (CPI) Report by the U.S. The Bureau of Labor Statistics.
Price categories which increased in March include:
Shelter- Motor Vehicle Insurance
- Airfares
- Household Furnishings & Operations, and
- New Vehicles
- The Food at Home Index rose 8.4% over the 12 months ending in March
- The Index for Cereals & Bakery Products rose 13.6%
- The remaining major grocery store food groups posted increases ranging from
- 2.5% for fruits & vegetables
- to 11.3% for non-alcoholic beverages
“Main Street America is signaling inflation is still their top concern, and with rising interest rates and an increasingly uncertain credit environment – they see no relief in sight," said Williams.
“My colleagues and I remain committed to enacting pro-growth policies to support Main Street America, and will be a bulwark against President Biden’s proposals to spend trillions more in inflationary spending,” Williams said.
