Today’s inflation report release delivered bad–but not surprising–news for households. 
Friend,
Welcome to the September MidPoint newsletter. Labor Day brought new overtime rules from the Biden administration. Inflation is no longer cooling and EU regulations will undercut U.S. businesses. Plus, check out our Labor Day series in the Washington Examiner about issues affecting women in the workplace.

Keep reading for the latest economic, labor, and tech analysis from the Independent Women’s Forum’s Center for Economic Opportunity (CEO).


** BREAKING
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Independent Women's Forum Senior Policy Analyst Carrie Sheffield Will Testify on September 19th at 2:00 p.m. During the House Oversight & Accountability Committee Hearing: Bidenomics: A Perfect Storm of Spending, Debt, and Inflation ([link removed]) .


** TOPLINE
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Inflation’s Troubling Comeback

Today’s inflation report release delivered bad—but not surprising—news for households. The consumer prices picked up for the second month in a row reversing inflation’s downward trend.

Rising global energy prices are the big driver of last month’s price increases which makes driving and transporting goods more expensive. However, proposed regulatory changes from the Biden administration could also add new labor costs that will in turn drive consumer prices higher.

According to the Bureau of Labor Statistics, prices on all goods rose 0.6% from July to August—a 14-month high—and 3.7% year-over-year. In the previous month, inflation rose 0.2% from July and 3.2% year-over-year, which marked a turnaround from cooling inflation that had been decelerating since June 2022 when headline inflation topped 9.1%.

While the biggest driver of July’s inflation pickup was increased rent prices and housing costs, energy costs drove August inflation higher. The national average for a gallon of gas is $3.85, according to AAA, up from $3.60 the month prior. The energy index rose 5.6% in August but fell 3.6% over the past 12 months and gasoline decreased 3.3% over the last 12 months. We expect that if energy prices keep rising this month, that will be reflected in next month’s numbers.

Taken together, we have a dismal picture of inflation. The prices of goods that Americans are buying every day are two to three times higher than they were in 2021. So despite the headline CPI appearing to be lower than this time one year ago, Americans don’t feel relief.

…

President Biden’s woeful marks on measures like handling inflation and the economy reflect that Americans don’t trust him to fix the problems he created. [keep reading ([link removed]) ]


** WATCH
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Fox News | ‘Not Buying It’: Biden’s Effort To Tout Bidenomics Falls Flat ([link removed])


** ABOVE THE DOTTED LINE
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* Just In: RealClearMarkets | Rent Control Is the Wrong Solution for Housing Affordability ([link removed])
* Must-Read Series: Washington Examiner | Restoring America Labor Day series:
+ Why AI Can’t and Won’t Replace Workers ([link removed])
+ Freelancing Gives Women an Edge. New Labor Department Rule Will Stifle Our Potential ([link removed])
+ Bidenomics Just Doesn’t Make Cents ([link removed])
+ Baby Benefits Beat Government Dictates for Women ([link removed])
* ICYMI: Independent Women’s Forum Decries the Biden Administration’s Anti-Woman, Anti-Small Business Labor Policies on Labor Day ([link removed])
* Hot Take: Daily Caller | People Rejected Key Part of Biden’s ‘Build Back Better’. Now He’s Sneaking It Through the Back Door ([link removed])
* Trending: Fact Check: Did President Biden Create 13.5 Million Jobs Since Taking Office? ([link removed])
* Blog: European Tech Regulations Undercut American Competitiveness to Consumer Detriment ([link removed])
* Trending: Biden’s New Overtime Rules Come With a Price ([link removed])
* Blog: Two Truths and a Lie: Occupational Licensing ([link removed])

Yours in freedom,
Patrice Onwuka
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