Peach Tree Times

The U.S. Bureau of Labor Statistics (BLS) has unveiled new data indicating a rise in inflation in February, partially ascribed to mounting housing costs. A poll conducted by the League of American Workers (LAW) reveals that 34% of Georgia's electorate regards housing costs as a primary concern.

According to the BLS' latest Consumer Price Index report, the overall CPI escalated by 3.2% from February 2023 to February 2024. The BLS points out that the increase in both the shelter and gasoline indexes "contributed over sixty percent of the monthly increase in the index for all items."

The BLS further states that the shelter index rose by 5.7% over the 12-month period ending February 2024, while the rent index saw an increase of 5.8% during that same period. Between January and February 2024, both shelter and rent indexes experienced an upturn by 0.4% and 0.5%, respectively.

In terms of specific areas, the BLS reports that in Atlanta-Sandy Springs-Roswell metro area, there was a 3.3% increase in overall CPI from February 2023 to February 2024. In the two-month period ending February 2024, this index rose by another 1.3%. Meanwhile, between February 2023 and February 2024, both shelter and rent indexes saw significant increases of 6.1% and 6.5%, respectively.

In a LAW poll conducted in January 2024 among likely Georgia voters, when asked to identify their top two most significant impacts from inflation, housing cost was listed by approximately one-third (34%) of respondents. Interestingly, on a related note, respondents expressed skepticism about economic prospects with a margin of 61% to 35%, stating they believed that the American Dream is out of reach for most Georgians.

The research was carried out by North Star Opinion Research and commissioned by LAW, an organization committed to studying economic public policies affecting American workers.