(The Center Square) — While the Consumer Price Index for All Urban Consumers dropped 0.1% in December and the year-over-year inflation rate stands at 6.5%, a Georgia nonprofit says Peach State residents may not be feeling the good news.
“We keep seeing positive headlines about the inflation rate, but that good news is lost on average Georgians who are continually pinched on the cost for everyday necessities like groceries and gas,” Erik Randolph, Georgia Center for Opportunity’s director of research, said in a statement. “Although there was some positive news in the December numbers, it’s important to keep in mind that core inflation remained elevated, including for food. If policymakers in Washington truly want to help the most economically vulnerable in our country, they must return to fiscal sanity and rein in the spending.
“Federal Reserve Chairman Jerome Powell remains steadfastly committed to bringing down inflation, and hopefully the change of political leadership in the U.S. House will mean more responsible federal spending,” Randolph added. “The policy goal should be to repeat the general decline in prices as what happened in December so the price level slowly comes back down. This will extend the opportunity of a higher standard of living for everyone, the rich and poor alike.”
During yesterday’s inauguration ceremonies, increasing costs was a theme, and Republican Gov. Brian Kemp promised to invest in education and return billions to state taxpayers.
“The challenges facing our state are real, but collectively, we are better,” Republican Lt. Gov. Burt Jones said during his inaugural address. “Collectively, we are stronger. And collectively, we have the power to work together across the aisle, across the state and communities from the north Georgia mountains to the coast of Georgia to build on our accomplishments while addressing our most pressing issues head-on.
“We can work together to reduce costs, make life more affordable for our families by lowering the state income tax, returning more money back to hardworking Georgians, supporting our law enforcement and strengthening sentencing guidelines for violent and repeat offenders to improve our overall public safety,” Jones added.
By T.A. DeFeo | The Center Square contributor