Republicans Face Highest Inflation Since Spring Ahead of Midterms / September Rate Is Highest Recorded Before a Midterm Election Since 1990

Republicans Heading into Congressional Midterms Face Highest Inflation Since Spring, a Development That Could Weaken the Party's Electoral Position, According to a Government Report Released Wednesday.

The Guardian wrote: On the eve of the congressional mid-term elections, the Republicans have faced the highest inflation rate since the spring; According to a government report published on Wednesday, this issue can weaken the electoral position of this party.

According to "Select" report; This article continues: According to the latest data from the US Bureau of Labor Statistics, the country's annual inflation rate reached 3.7% in September; While this figure was 3.4% in August. This is the last inflation report before the crucial midterm elections, and it comes as polls show widespread dissatisfaction with the Trump administration's handling of the cost of living.

The increase in prices is the highest since the annual inflation rate reached a three-year peak of 4.2 percent in May. Gasoline accounted for more than half of the overall increase in prices, and its price has increased by 34% compared to last year. The price of fuel oil, which is used to heat homes, has also increased by 74% compared to last year; A worrying issue for households that are on the eve of the winter season. The cost of air travel, which many Americans rely on on vacation, also rose 22.4 percent.

Overall, consumer prices rose by 0.6 percent in September compared to August. Core inflation, which excludes volatile food and energy prices, also rose 0.3 percent in September to an annualized rate of 2.6 percent.

The increase in prices this year was mainly caused by the war between America and Israel with Iran; A war that has caused energy prices to jump. According to data from the American Automobile Association (AAA), the average price of gasoline remains more than a dollar per gallon higher than it was last year. Meanwhile, the price of diesel, the fuel used in domestic supply chains, reached an all-time high last month.

The September inflation rate was the highest recorded before a midterm election since 1990; Of course, except during the corona epidemic period.

The economy has always been one of the most important concerns of American voters. The increase in gasoline prices and continued inflation have put pressure on household budgets. According to estimates by Brown University, the increase in energy prices following the war with Iran has cost more than 1,200 dollars per American household, and the total cost imposed on American consumers has reached 133 billion dollars.

It is expected that most of the complaints will be directed at the Republicans; The party that controls Congress and the White House. According to a recent Reuters/Ipsos poll, 78 percent of Americans blame the current Trump administration's policies for inflation, which is rising faster than their incomes. This group even includes 57% of Republicans who support Donald Trump.

In recent weeks, Trump has tried to downplay the role of his government in increasing prices and to introduce the Iranian government as the cause of economic pressure on the people. The White House did not immediately respond to a request for comment on the latest inflation report.

On Tuesday, Trump wrote on social networks that Yemen's Houthi group is deliberately attacking Saudi Arabia to influence the upcoming US election.

"They have reappeared," he wrote. Probably on the order of Iran... and in a very unpleasant way, they attack Saudi Arabia and deliberately try to raise the price of oil; Probably before the US election. This is not acceptable."

Rising inflation will put more pressure on the Federal Reserve, the central bank of the United States, to raise interest rates; The tool that this institution has to control the increase in prices. Last month, the Federal Reserve raised interest rates for the first time since 2023, citing high prices as the reason for this decision.

Rising interest rates affect the cost of borrowing money, including mortgage rates. The 30-year mortgage rate, which is used for the most common type of home loan, has reached 7.40 percent.

Richard Carter, head of fixed income research at Quilter Chevyt, said in a statement: "US inflation has been reported higher than expected; An event that will deal a blow to Donald Trump on the eve of the mid-term elections in November."

He added: "The president has tried hard to show that he will bring inflation under control and provide the conditions for lowering the interest rate." He has even gone so far as to allow Russian diesel to enter the market again; But these actions seem too late and insufficient in the situation where the war in the Middle East continues to put pressure on the global economy."