Business · Economy · 20 hrs ago

Rising prices put Republicans under pressure ahead of US midterms

Rising prices put Republicans under pressure ahead of US midterms

US inflation rose to 3.7% in September, up from 3.4% in August, putting the economy back at the centre of the midterm campaign.

The figures come as President Donald Trump’s Republicans face a risk of losing their majorities in the House of Representatives or the Senate on November 3.

Trump had promised to lower prices, but a slower rate of inflation does not mean prices have fallen; it means they are rising more slowly.

Higher energy prices have recently driven inflation upward, after the US-Israeli attack on Iran and Iran’s closure of the Strait of Hormuz disrupted a major oil route.

Earlier, US tariffs also raised the prices of some consumer goods, although their effect on overall inflation was smaller and has since weakened.

A loss in either chamber could let Democrats block Trump’s plans during the final two years of his term.

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