trump supportes in detroit near city airport

One key statistic being measured by the White House is how many gallons of gas can be purchased on average for an hour of work.

The administration wants voters to focus on the downward trend. The office of Senate Minority Leader Mitch McConnell, R-Ky., issued a breakdown of price increases over the entirety of Biden’s tenure to say that inflation is still a problem, citing a 39% increase in airfare, 18.8% increase in furniture prices and 52% increase in gas. Republicans are tweaking the data they use on inflation, putting a greater emphasis on total price increases over the entire Biden presidency instead of the annual and monthly figures that economists commonly use. “It is particularly notable and highly consistent with Bidenomics to see this steep a decline in the rate of inflation while employment remains so uniquely strong.” “Inflation is down by two-thirds over the past year,” said Jared Bernstein, chair of the White House Council of Economic Advisers.

Defying expectations that Federal Reserve efforts to combat inflation would cause layoffs, the unemployment rate is healthy at 3.6%. This makes the inflation argument somewhat nuanced as data from AP VoteCast, a sweeping survey of the national electorate, shows that the majority of voters last year - 83% of Republicans and 73% of Democrats - own their homes and are largely insulated from higher rental prices.īiden’s team was quick to seize on the inflation report as proof that its policies are delivering results. Unlike a year ago, inflation is mainly coming from a government measure of shelter based on what it would cost to rent a home. Prices have risen just 3% from a year ago, compared with 9.1% in June 2022, and it’s the lowest reading since March 2021. The GOP argument has resonated with voters, but the report on consumer prices for June suggests that inflation has eased dramatically without any of the job losses that some economists and Republican leaders said would occur. Republicans have hammered Biden over the cost of groceries, gasoline, utilities and more, saying his $1.9 trillion pandemic relief package and push for electric vehicles were responsible for pushing inflation to a four-decade high. WASHINGTON (AP) - The politics of inflation took a sharp turn Wednesday with a report showing consumer prices rose at the slowest pace since the early months of Joe Biden’s presidency.

Trump supportes in detroit near city airport