Topline
President Donald Trump and others in his administration are slamming the public’s worries about affordability as a Democratic sham, while brushing off or deflecting blame on cost of living concerns despite data showing prices are on the rise—and polls that reveal voters are largely blaming him.
Publix in Miami Beach.
Jeffrey Greenberg/Universal Images Group via Getty Images
Key Facts
Trump posted to Truth Social on Thursday afternoon claiming prices are dropping—even though inflation is accelerating—and claiming affordability was a “DISASTER” 13 months ago.
Earlier in the day, Commerce Secretary Howard Lutnick insisted “nothing bad is happening” and the economy is “doing great” before calling Federal Reserve Chairman Jerome Powell “too afraid” to cut interest rates, even though the Fed has done so three times since September.
The Bureau of Labor Statistics’s Consumer Price Index shows the cost of most goods and services have risen since last year, and polls say American voters are becoming increasingly disenchanted with Trump’s handling of the economy.
An AP-NORC poll released Thursday showed 70% of respondents believe the economy is in bad shape, and only 31% of adults approve of how Trump is handling the economy—the lowest economic marks he’s ever had in the poll.
A Politico poll released last week showed 46% of Americans believe increasing affordability issues are Trump’s responsibility and reports that 43% of Americans believe economic opportunity has declined compared to previous years.
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Key Background
The CPI, which measures changes in the price of consumer goods and services, shows a 3% annual inflation rate. The latest CPI data, which measured costs in September, revealed the price of food, electricity, utility gas, cars, medical care, shelter and transportation have all risen since September of last year. Food price increases are outpacing their 20-year average: The prices of major food staples like eggs and meat have all increased this year (and are expected to continue rising in the months ahead) and electricity and utility gas bills rose 6.4% year over year. For many households, groceries pose the biggest financial strain (45%), the Politico poll showed, followed by housing (38%) and health care (34%). Trump has repeatedly claimed all negative sentiment around his handling of the economy is a scam perpetuated by Democrats, and said he doesn’t believe polls that say Americans are worried. On Thursday, in his Truth Social post, he asked, “When will people understand what is happening? When will Polls reflect the Greatness of America at this point in time, and how bad it was just one year ago?”