Inflation slows, cost of living soars: Trump's challenge ahead of the elections

The US midterm elections will take place in about a week and a half. Despite a slowdown in inflation, the relief is not felt in consumption. Gas prices have surged by more than 30%, alongside increases in coffee, toys, and footwear. Poll: 73% of voters are dissatisfied with Trump's handling of gas prices.

The US midterm elections will take place next Tuesday, November 3, and one of the key issues on voters' minds is the cost of living. Inflation during Donald Trump's second term is significantly milder compared to Joe Biden's four-year term, but the slowdown in the rate of price increases has not yet translated into satisfaction among the American public. According to an analysis of price data published by Yahoo Finance, consumer prices have risen by 5.4% since the start of Trump's second term, compared to an increase of more than 20% during Biden's term. Gasoline and heating fuel prices have surged by more than 30% since March, against the backdrop of the war and the closure of the Strait of Hormuz. According to a New York Times and Siena poll, 73% of likely voters are dissatisfied with Trump's handling of gas prices. Tariff policy is also affecting prices: coffee prices have risen by nearly 23% during Trump's second term, and toy and footwear prices have increased rapidly due to tariffs on imports from China. In contrast, egg prices have fallen by an average of 3.82% per month during Trump's term. The gap between economic data and public sentiment illustrates the president's political challenge.