Donald Trump Suffers Inflation Nightmare Just Weeks Before Midterms
Summary
In September, inflation in the U.S. rose faster than expected, with prices increasing 0.6% for the month and 3.7% over the year. This is the last inflation report before the November 3 midterm elections, an event where many voters say the economy and inflation are their biggest concerns.Key Facts
- The Consumer Price Index (CPI) showed a 0.6% rise in prices in September, up from 0.4% in August.
- Annual inflation increased to 3.7% from 3.4%, higher than analysts predicted.
- Energy prices rose 5.2% in September, led by a 9.1% jump in gasoline costs.
- Core inflation, which excludes food and energy, was 0.3% for the month and 2.6% annually.
- Inflation is the top concern for 37% of Americans in the upcoming elections, according to polls.
- Consumer confidence in the economy is at a record low, with many rating it as “poor.”
- A majority of Americans blame President Donald Trump for high inflation and are unhappy with his handling of living costs.
- The next inflation report will be released after the midterm elections on November 10.
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