By Ginika Igboke
President Donald Trump said he expects the 2026 midterm elections to center on prices and perceptions of economic progress, arguing that easing inflation, lower energy costs, and rising wages will persuade voters to keep Republicans in control of Congress.
“I think it’s going to be about the success of our country. It’ll be about pricing,” Trump told Politico in a Dec. 26 interview. “Because they gave us high pricing, and we’re bringing it down. Energy’s way down. Gasoline is way down.”
Trump’s remarks come as the White House ramps up its affordability message following recent economic reports showing cooling inflation and stronger-than-expected growth. Administration officials say easing price pressures—especially for energy and prescription drugs—are beginning to provide relief after years of elevated costs.
Inflation Cools, but Affordability Remains a Political Risk
Recent inflation data supports Trump’s argument that cost-of-living pressures have eased. In November, the annual inflation rate fell to 2.7 percent, below the market consensus of 3.1 percent. Core inflation, which excludes food and energy, slowed to 2.6 percent, its lowest level since March 2021.
Despite the improvement, polling shows affordability remains a top concern for voters. Inflation peaked at about 9 percent in 2022 during the Biden administration, and surveys suggest lingering frustration could still pose a risk for Republicans ahead of the midterms.
A recent NPR–PBS News–Marist poll found that 70 percent of respondents said the cost of living is not very affordable or not affordable at all—the highest share recorded since 2011. Democrats have tapped into those concerns in recent off-year elections, outperforming expectations in several races.
Trump has repeatedly blamed high prices on the previous administration. In a Dec. 17 primetime address, he said the term “affordability” only became a political issue after prices surged under former President Joe Biden.
“When I took office, inflation was the worst in 48 years, and some would say in the history of our country,” Trump said, adding that it made life unaffordable for millions of Americans.
Energy and Drug Prices Central to Midterm Strategy
In his Politico interview, Trump emphasized his energy policies as a key driver of lower inflation.
“Electricity is down. It’s way down,” he said. “When gasoline and oil come down, electricity comes down. It’s all coming down.”
Lowering energy costs through increased domestic production has been a cornerstone of Trump’s economic strategy. Crude oil prices are down about 21 percent this year, pushing the national average gasoline price to roughly $2.83 per gallon, according to AAA.
Trump has also pointed to prescription drug pricing as another major affordability issue. At a Dec. 19 rally in Rocky Mount, North Carolina, he highlighted new agreements with major pharmaceutical companies to reduce list prices, calling the move a landmark achievement that would also help curb inflation.
“Your drugs are coming down at levels that nobody ever thought was possible,” Trump said. “This achievement alone should win us the midterms.”
Trump also cited third-quarter economic growth of 4.3 percent—above forecasts—as further evidence of economic momentum he believes will benefit Republicans in 2026.
With control of Congress narrowly divided—Republicans holding a slim majority in the House and a 53–47 edge in the Senate—the stakes of the midterms are high. House Speaker Mike Johnson has warned that losing the House could revive impeachment efforts, while several Democrats have said they would seek to impeach Trump if they regain control.
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