President Trump and the Democrats fight over power Voters delivered a major rebuke to the Republican Party in key elections this week.
Democrats won landslide victories in the New Jersey and Virginia governor’s races on Tuesday, flipping state legislative seats in red districts and recapturing areas that shifted to the right along the way.
Strategists from both parties credited Democratic victory growing concerns About the rising cost of living and the unique ways successful Democratic candidates have addressed them.
The annual inflation rate, as measured by the consumer price index, rose to 3 percent in September, the same level as when Trump took office in January. However, the president has rejected the Democratic message on affordability As a “thief”.,
Here’s how much prices for certain categories of goods and specific products have changed over the last year september cpi report – The latest data from the Bureau of Labor Statistics (BLS).
Total inflation: 3 percent
Prices are projected to rise 3 percent on average through September 2024, 1 percentage point above the Federal Reserve’s target of 2 percent.
Inflation surges after COVID-19 pandemic after years of staying close to Fed target growing At 9.1 percent in June 2022. Inflation has fallen toward the Fed’s target in the years since, but has not yet recovered.
Energy: up 2.8 percent
Despite falling gas prices, rising energy costs played a significant role in the Virginia and New Jersey gubernatorial races. While low gasoline prices helped soften the blow somewhat, prices for other sources of energy rose sharply.
Gasoline: down 0.5 percent
Unlike other energy goods and services, gasoline has become cheaper over the past year. Propane, kerosene and firewood prices are also down 3.9 percent from last year.
Gas prices typically have a strong impact on consumer sentiment, especially during stressful economic times, but it has been impacted by rising prices in other areas.
Electricity, up 5.1 percent
Electricity prices were a primary focus for newly elected Governor Mickey Sherrill (D-N.J.), who proposed a utility cap in the Garden State. 22 percent annual growth In electricity bills.
Experts say there has been a huge increase in electricity bills is operated Due to both the high energy demand from new data centers and the lack of infrastructure to help meet that demand.
Utility gas service: up 11.7 percent
No other sub-category of energy was more expensive than piped gas for ranges and heaters over the past year.
Food: up 3.1 percent
Egg prices have fallen 1.3 percent in the past year, following a sharp cut in national supplies following the bird flu outbreak. But prices of many other staple foods and food groups have become significantly higher.
Beef prices are up 14.7 percent through September 2024 due to a combination of Trump’s tariffs and a sharp decline in U.S. cattle supply. Bacon is up 5.8 percent, though pork is generally up only 1.6 percent and fresh whole chicken prices remain steady.
Dairy prices have remained largely stable, and fruit and vegetable prices have increased only 1.3 percent over the past year. But prices for some staple foods, which are not widely grown in the US, have increased, largely due to tariffs.
Banana prices are rising 6.9 percent annually, and coffee prices are rising nearly 19 percent.
Home furnishings and supplies: Up to 3 percent
U.S. tariffs cover a significant portion of imported products across a wide range of goods, including furniture, appliances, decorations, and household goods, with prices for many of these products yet to increase significantly.
Apparel: down 0.1 percent
Trump’s decision Close the De Minimis Loophole The fast fashion companies responsible for the flood of cheap foreign clothes were in panic. But overall clothing prices are lower than last year.
