Lowest Inflation Rate in Over a Year Shows the Economy Is Moving in the Right Direction

There Is More Work to Be Done, but the Progress Is Undeniable. 

Arlington, VA — Today’s inflation report shows the lowest annual inflation rate in over a year, marking continued progress toward restoring price stability for American families. While inflation has not yet reached the Federal Reserve’s 2 percent target, it is moving closer to 2 than 3 — a meaningful improvement that signals the economy is heading in the right direction.

Gasoline prices declined in the latest report, offering welcome relief for drivers across the country. At the same time, electricity costs remain elevated — reinforcing the importance of increasing domestic energy production and modernizing infrastructure to lower costs over the long term.

Kurt Couchman, Senior Policy Fellow at Americans for Prosperity, issued the following statement:

“Today’s report is encouraging news for hardworking Americans. Inflation is at its lowest level in over a year, and families are beginning to see relief, particularly as gas prices move down. That’s real progress.

“While deficits remain too high and electricity costs continue to strain household budgets, there’s no doubt the policies of this administration and Congress are working. The more this administration unburdens small businesses and Main Street job creators, the stronger and more resilient our economy will be.

“The best opportunity Congress has to build on this progress is by passing meaningful energy permitting reform. Allowing the private sector to build faster and cut through unnecessary red tape will boost supply, strengthen our energy infrastructure, and help lower prices even further. This is the moment to lock in the gains we’re seeing and accelerate them.”

Americans for Prosperity will continue advancing policies that promote growth, fiscal responsibility, and greater opportunity for families and job creators nationwide.

Through broad-based grassroots outreach, Americans for Prosperity (AFP) is driving long-term solutions to the country’s biggest problems. AFP activists engage friends and neighbors on key issues and encourage them to take an active role in building a culture of mutual benefit, where people succeed by helping one another. AFP recruits and unites activists in all 50 states behind a common goal of advancing policies that will help people improve their lives. For more information, visit www.AmericansForProsperity.org

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