Trump calls affordability a ‘Democrat scam’ amid inflation concerns

president Donald Trump He criticized Democrats for their focus on affordability at a Cabinet meeting on Tuesday, saying their policies have brought on a historic, low-running inflation that continues to worry Americans.

“The word affordability is a scam for Democrats,” Trump said. “They say that and then they move on to the next topic and everyone thinks, ‘Oh, they had lower prices.’ No, they had the worst inflation in the history of our country.”

Trump said that since January, the administration has “stopped inflation in its tracks” and acknowledged that “there is still a lot to do” because inflation “is going to come down a little bit.” He also pointed to lower gas prices and mortgage rates, as well as lower prices for food items like eggs.

Inflation rose to a 40-year high, reaching 9.1% in June 2022 amid COVID-19-related supply chain disruptions and stimulus spending by the federal government, before gradually declining over the past few years. Despite this progress, inflation remains above the Fed’s 2% target and has risen in recent months.

Voters expressed economic concern about inflation as costs rise, a Fox News poll found

Bureau of Labor Statistics Consumer Price Index (CPI) It showed that inflation reached 3% in January when Trump returned to the White House, and fell to 2.3% in April, the lowest level since March 2021.

However, inflation has rebounded in recent months and returned to its normal level 3% in Septemberthe last month for which data were published.

The inflation recovery coincides with the Trump administration’s introduction of monetary stimulus policy Higher tariffsUS importers deal with the higher costs resulting from import taxes by passing some of these costs on to consumers through higher prices.

Consumer confidence declines sharply as Americans worry about the economy

Voters were skeptical of the Trump administration’s economic policies, with A Fox News poll Last month, they found that 76% of respondents rated national economic conditions as either “not very good” or “poor” in their opinions.

They also indicated negative opinions about them Personal financial situations60% rated them as neither good nor bad, while 40% said they were in good or excellent financial condition.

A majority of 61% of voters said they disapprove of the way Trump is handling the economy, while 38% expressed their approval. While 77% of Republicans said they approved of the president’s handling of the economy, only 25% of independents and 6% of Democrats expressed their approval.

Analysis shows middle-income Americans are pessimistic about their financial futures amid persistent inflation

Americans remain concerned about rising prices, with rising food and energy prices presenting notable vulnerabilities. (Robert Nickelsburg/Getty Images)

More than half of respondents, 52%, said prices were “not at all under control,” with just 18% of voters saying inflation was completely or mostly under control, and 29% saying it was somewhat under control.

Grocery costs were a particular headache, with 85% saying they had increased over the past year.

Other areas of Family budgets Causing financial stress with prices higher than last year were utility bills and health care costs, as well as housing costs, with at least two-thirds of survey respondents reporting higher costs in those categories.

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Gas prices It’s an area where voters who responded to the survey reported more satisfaction, with only 54% reporting price increases and 30% saying gas costs decreased in the past year.