WASHINGTON, D.C. — Today’s consumer sentiment report is an eye opener, revealing that consumers are increasingly worried about inflation with sentiment declining for the first time in four months. This troublesome report comes on the heels of new PPI data that shows everyday household items could get even more expensive. This new information could not come at a worse time as families across the country gear up for back-to-school season. This week, Groundwork Collaborative and The Century Foundation released a new report finding that President Trump’s policies are driving up costs for back-to-school staples and healthy meals. The report found that American families will pay up to 40 percent more on essential school supplies and over $160 more on lunch-box staples.
Groundwork Collaborative’s Chief of Policy and Advocacy Alex Jacquez reacted with the following statement:
“President Trump never had a plan to make life more affordable for working families and this truth is coming to light for many Americans as consumer sentiment about the U.S. economy takes a nosedive. Every economic indicator points toward higher prices for consumers, a weak labor market for workers, and sluggish economic growth due to the Trump agenda. No matter how many experts he fires, it won’t change the fact that Trump’s chaotic trade policies and the disastrous Republican Budget Law are driving up prices for hardworking Americans across the board as consumers brace for impact. From school supplies and groceries to transportation and utilities, in Trump’s economy, families are footing the bill while the wealthy get tax breaks.”
Email press@groundworkcollaborative.org to speak with a Groundwork expert about President Trump’s economic mismanagement.