Inflation remains at a 40-year high, and while Congress prepares to spend hundreds of trillions of dollars more, families across North Carolina are struggling with the higher costs of getting their children ready to return to school.
The inflation, worsened by President Biden's economic agenda, hasn't been a big issue for Cheri Beasley - in large part because she agrees with the entirety of the Biden economic agenda. But, in cities like Charlotte, it is a MASSIVE issue.
From the Charlotte Observer:
"After months of rising prices and stagnant wages, economic pain is piling on for low- and middle-income households in Charlotte. Now, teachers and families say it's complicating even the simple task of back-to-school shopping.
Inflation has hit a new four-decade high this summer. The Consumer Price Index - the U.S. labor department's measure of the price of everyday goods - was up 9.1% year-over-year in June.
The costs of essential expenses like food, gas and shelter have skyrocketed in the last several months as U.S. officials struggle to slow the pace of rising prices.
"Our parents were already struggling with making ends meet but increases in rent, food and gas are making it impossible," said Jane Shutt, executive director of Pineville Neighbors Place.
The nonprofit is in its sixth year of providing new backpacks with school supplies for all 800 students at Sterling Elementary, a Title 1 school where about 90% of the students live at or below poverty, Shutt said.
Back-to-school supplies like books, clothes and technology are no exception to the increases, said Rod Sides, a Charlotte-based vice chair at Deloitte and an author of the firm's annual back to school survey.
"It's the number one thing weighing on the mind of consumers today - the economy, and specifically inflation," Sides said...
More than 1 in 3 North Carolinians are planning to spend more on school supplies this year, according to Deloitte's survey. Some 38% are concerned about affording back-to-school expenses for their children."
Statement from NRSC Spokesman T.W. Arrighi: "With prices through the roof, families across Charlotte and North Carolina are doing all they can to make ends meet as their children head back to school. Meanwhile, Washington Democrats continue to spend with no concern about their budget, and Senate hopefuls like Cheri Beasley stand by and support the recklessness. North Carolinians are sick of the double standard, and the policies that have worsened our record inflation. Ted Budd gets it and won't forget about the families struggling in this economy."