Georgia policy group says inflation is not conquered, is becoming ingrained in economy

The country has not conquered inflation, and it has become ingrained in our economy, the research director of a leading Georgia policy group said.

On Thursday, the U.S. Bureau of Labor Statistics announced that the Consumer Price Index for All Urban Consumers rose 0.4% in September. The year-over-year inflation rate stands at 8.2%.

“The Biden administration prematurely declared victory in August after passage of the Inflation Reduction Act,” Erik Randolph, director of research for the Georgia Center for Opportunity, said in a statement. “But as we’ve seen in the weeks since, inflation has a strong foothold and isn’t going away anytime soon.