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Thursday, November 21, 2024

Steil responds to ‘historically bad’ inflation report as numbers reach the highest point since 1990

Steil

U.S. Congressman Bryan Steil (R-WI) | Twitter/Bryan Steil

U.S. Congressman Bryan Steil (R-WI) | Twitter/Bryan Steil

As inflation booms across the country, District 1 Rep. Bryan Steil (R-WI) took to social media this week, calling out worker shortages and empty shelves across the state.

Steil tweeted, responding to a Bloomberg post stating inflation has hit the highest point since 1990 with an annual rate of 6.2%.

“Stores across Wisconsin are seeing worker shortages and empty shelves. We need to fix our supply chains and get workers back to work,” Steil wrote in his tweet. “Today’s inflation report is historically bad. Inflation hurts low-income workers and seniors the most. We need to change course.”

According to The New York Times, the Federal Reserve aims for a 2% gain average annually, though in the last year to date, there has been a 6.2% inflation rate. The rising rate has been influenced by car shortages, labor shortages, supply-chain issues and rising rent among other factors, the report states. 

While Wisconsin is trying to combat the labor shortage with a bill that would allow teenagers to work longer hours, a lack of support among Democrats could lead to a veto by Gov. Tony Evers when it reaches his desk, CNN reports.

On Nov. 10, the average price of a gallon of gas in Wisconsin was $3.141, the American Automobile Association states. One year ago, it was $1.919.

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