Senator Shelley Moore Capito responds to latest inflation report

Charleston, WV (WOAY) – Senator Shelley Moore Capito (R-WV) posted her response to the release of the Consumer Price Index (CPI), which reported inflation rose 13.5% since President Biden took office in January 2021.

Capito tweeted her frustration on Twitter, stating, “Frustrated to see another month of inflation increase, which was higher than expected. West Virginians will, unfortunately, continue to feel this every single day.”

In a release WOAY obtained from Capito’s office, the Senator highlights other key points following the CPI release, including:

In September, the Consumer Price Index for all Urban Consumers (CPI-U) increased by 8.2% compared to September 2021, which exceeded economists’ expectations and remained at a nearly 40-year high.

Core inflation, which strips out food and energy, accelerated to 6.6%, above last month’s 6.3% increase and above the market expectation of 6.5%. Core inflation is the highest in over 40 years.

Real average hourly earnings fell 3% since last year, marking the 18th month in a row under President Biden that inflation has outpaced wages. Real wages have fallen every month since Democrats passed their wasteful $1.9 trillion “American Rescue Plan.”

The food-at-home index rose 13% over the last 12 months, slightly lower than last month’s 13.5%. Despite the slight decline, grocery price inflation remains near the highest levels in more than four decades.

The largest contributors to inflation were transportation, housing, and food, which represented approximately 86% of the 8.2% increase in consumer prices. Housing price inflation at 8.0% was the highest in more than four decades. For energy products specifically, the gasoline price index rose by 18.2% in September.


Sponsored Content