A higher-than-expected CPI report Thursday showed that inflation is likely to be locked in as one of the most important issues for 2022 midterm voters.
Those figures were both higher than the 8.1% headline figure and 0.2% monthly increase forecast by Refinitiv economists. In an even more concerning development that suggests underlying inflationary pressures in the economy remain strong, core prices, which strip out the more volatile measurements of food and energy, climbed 0.6% in September from the previous month. From the same time last year, core prices jumped 6.6%, the fastest since 1982.
Republicans have been attacking Democrats on the issue since last year and appear poised to keep hammering their opponents on that issue until Election Day. President Biden and top congressional Democrats backed the"Inflation Reduction Act" earlier this year in an effort to tame rising prices despite debate whether it will actually reduce inflation.
"Every American is dealing with the out-of-control price hikes caused by Democrats’ reckless spending. That’s why poll after poll shows inflation is the No. 1 issue headed into the midterms." National Republican Congressional Committee spokesman Mike Berg told Fox News Digital. Democrats argue that they've moved major pieces of legislation aimed at cutting inflation, including a bipartisan infrastructure bill and the Inflation Reduction Act,
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