The Progressive


A project of Common Dreams

For Immediate Release

Groundwork Reacts to February CPI Report

Today’s Consumer Price Index (CPI) report shows inflation at 6.0% year-over-year in February – down from 6.4% in January. Lower prices for food and energy pulled inflation down, as it’s now down a third from its June 2022 peak.

Groundwork’s Chief Economist Dr. Rakeen Mabud responded to today’s inflation report with the following statement:

“This is the eighth straight report showing falling inflation and our labor market has continued its strong growth. It’s obvious that millions of people don’t have to lose their jobs to lower prices. Chair Powell and the Fed need to stop raising interest rates before they trigger a painful and unnecessary recession.”

Email to speak to Dr. Mabud about the latest CPI report and the Fed’s wrongheaded approach to inflation.

The Groundwork Collaborative is dedicated to advancing a coherent and persuasive progressive economic worldview and narrative capable of delivering meaningful opportunity and prosperity for everyone. Our work is driven by a core guiding principle: We are the economy. Groundwork Collaborative envisions an economic system that produces strong, broadly shared prosperity and power for all people, not just a wealthy few.