Groundwork’s Rakeen Mabud Reacts to February CPI

March 12, 2024

Groundwork’s Rakeen Mabud Reacts to February CPI

Today, the Bureau of Labor Statistics released the February CPI report which showed prices rose 0.4% last month and 3.2% over the last year. Housing and gasoline prices together accounted for 60% of the monthly increase in prices. Higher interest rates have pushed mortgage rates to 20-year highs over the last two years. Groundwork’s Chief Economist Rakeen Mabud reacted with the following statement:

“The Fed’s high interest rates are pushing up costs for families, including housing costs. The Fed’s actions are exacerbating a long-standing housing shortage by making it more expensive to build new homes.”

Email to speak with one of Groundwork’s experts about today’s CPI report.