Job Creators Network Reacts to CPI Release Showing Rise in Core Inflation
Washington – Today, the Bureau of Labor Statistics reported that the Consumer Price Index rose by 6.5% over the last year, and core inflation rose by 5.7%. Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement:
“Today’s inflation report confirms what everyday Americans who shopped over the holiday season already know: core inflation continues unabated, eroding Americans’ real wages and living standards. Overall inflation over the last 12 months – the calendar year of 2022 – increased by 6.5%, exceeding average wage growth for the year, and core inflation actually increased over the last month.
“As I argue in my new book, ‘The Real Race Revolutionaries: How Minority Entrepreneurship Can Overcome America’s Racial and Economic Divides,’ this historic inflation disproportionately hurts minorities. The new Congress must immediately end the reckless spending that’s fueling this inflationary fire and impeding entrepreneurship among minorities and all hardworking Americans.”