August Annual Inflation Increased To 3.7%, While Income Falls And Poverty Rises

August annual Inflation increased to 3.7% according to the U.S. Bureau of Labor Statistics, CPI report.
According to the U.S. Census Bureau: From 2021 to 2022:
- Income fell, and poverty rose, reflecting economic challenges stemming from the end of pandemic-era programs necessitated by extended lockdowns.
- Child poverty more than doubled.
- Overall poverty rate increased to 12.4%. It was 10.5% in 2019. 12.7% in 2016.
- Median household income dropped about 2.3%.
Tony Drake, Drake & Associates joins OAN’s Alicia Summers.