The Progressive


A project of Common Dreams

For Immediate Release

Groundwork Reacts to January CPI Report

Today’s Consumer Price Index (CPI) report shows inflation is at 6.4% year-over-year in January – down slightly from 6.5% in December. Prices for housing and shelter remain stubbornly high, accounting for nearly half of monthly inflation.

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

“Inflation has fallen for seven straight months and the labor market continues to be relatively strong. It’s increasingly clear that we don’t have to manufacture mass joblessness and economic devastation to bring down prices. The Fed should stop trying to do just that.”

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.