Old North News

The U.S. Bureau of Labor Statistics (BLS) revealed on March 12 that inflation had increased in February. Recent surveys indicated that the economy, along with the pressures from inflation, were among the primary concerns for North Carolina voters. These voters also expressed significant disapproval of President Biden's handling of the economy.

According to the BLS' most recent Consumer Price Index (CPI) report, the overall CPI rose 3.2% from February 2023 to February 2024. The BLS noted that this marks a greater annual CPI increase than the 3.1% rise observed from January 2023 to January 2024. The overall CPI also saw an uptick in February 2024, by 0.4%, over January 2024, compared to a 0.3% increase from December 2023 to January 2024.

The BLS further reported that increases in the shelter and gasoline indexes "contributed over sixty percent of the monthly increase in the index for all items."

In its regional analysis, the BLS highlighted that in the South region’s South Atlantic division, which includes North Carolina, the overall CPI increase surpassed the national average. From February 2023 to February 2024, this division's overall CPI rose by 3.9%, while from January 2024 to February 2024, it increased by 1%. In the South region, shelter and gasoline indices saw increases of 0.7% and 5.5%, respectively, during the one-month period ending February 2024.

A poll conducted by the League of American Workers (LAW) in February 2024 showed that a plurality —23%—of likely North Carolina voters identified the economy as their top issue. Additionally, voters disapproved of President Biden's economic stewardship by a margin of 61 to 35 percent and stated by a margin of 62 to 31 percent that Biden's economy does not offer any "opportunity for working-class Americans to improve their standard of living." The poll also found that 67% of North Carolina voters believed that the "American Dream" is out of reach for most North Carolinians, and by a margin of 52 to 32 percent, they felt they were financially better off under President Donald Trump than during the Biden administration.

The research was conducted by North Star Opinion Research and commissioned by LAW, an organization that works to examine economic public policies affecting American workers, according to LAW's website.