Experts have explored for several months the potential contributors to the high U.S. inflation numbers, but there has yet to be a sound consensus on the primary reason, the Functional Government Initiative (FGI) said in a recent news release.
Leading contenders include federal spending on pandemic relief bills, high oil prices, and now high tensions in Europe, the news release said. FGI has begun their search by digging into government policies.
FGI, a non-profit watchdog group, is seeking full transparency from government agencies in the following areas: "actions to slow gas price hikes using emergency powers; calls for investigating the meat and energy industries; efforts to hinder domestic fossil fuel production, halt pipeline approvals and shut down American mines; and considerations behind the decision to re-nominate a Federal Reserve chairman who has presided over 40-year highs in inflation," the group said in the release.
FGI is a nonpartisan organization and watchdog group that works to seek transparency and integrity from elected officials and government agencies, and promote the shared beliefs and values of working Americans.
"For years, Washington’s dysfunction has enraged the American public," FGI spokesman Peter McGinnis said in a statement included in the news release. "The Functional Government Initiative exists to explore what is driving that dysfunction and shine a light on the key decisions causing it. Right now, inflation is front and center in this discussion. The public almost certainly understands that the pandemic has played a part in driving inflation, but if it turns out government policies are supercharging that spike in their cost of living, then they deserve to know. A strong economy and a healthy America are goals all Americans share. As we get records back on these key decisions impacting inflation, we will soon find out whether actions of the federal government are aiding or impeding those goals."
The American Automobile Association (AAA) reported Tuesday the average price in Arizona for a gallon of regular gas was $4.29.
After major Western companies pulled out of Russian oil investments by droves, oil prices surged above $110 per barrel on March 3, a recent Reuters news release said. It is the first time in approximately a decade that crude oil prices have been this high.
"Inflation costs Arizonans over $500 more per month in added household expenses," a recent Republican Party of Arizona tweet said. "AZ has experienced the highest rate of inflation of any region in the country at a whopping 9.0%"