Inflation heats up ahead of midterm elections

Fox - 10 Phoenix
25 followers
62 Video Views·Oct 29, 2026
President Trump's midterm blitz has him
in South Carolina this afternoon as he looks to
energize his base and ease voters' minds about the economy.
But new numbers out this morning
show inflation is still hot.
One reason Democrats are expected to make major gains on Tuesday.
Fox's Rebecca Castor has more from Washington.
Each week, prices go up 10, 15 cents. I have
three jobs right now because the economy is really hard.
I think gas prices are huge.
The cost of living is top of mind for voters this election season,
and new data from the Commerce Department backs up concerns.
Inflation is still rising,
up half a percent in September and 3.6 percent from last year.
You go out to buy a hamburger or something
and you're almost buying a cow.
Before you go out and vote, you have to check your 401ks.
They're so up in history, you've never had anything like it.
Income for hardworking Americans has soared
to the highest level ever recorded.
President Trump has spent the last month crisscrossing
the country to ensure voters
know what he has done to help the economy.
But Democrats say the numbers don't lie.
If you thought everything cost too much before, guess what?
Everything is more expensive now.
Despite rising inflation, commerce data
also shows the economy is still growing faster than expected,
with GDP up 3.4 percent in the third quarter.
And consumer spending is holding steady.
The economy is growing, which is phenomenal,
like that's what we all want, but at the end of the day,
consumers, voters, they can't spend GDP.
All they really care about is whether or not they have money left
in their checking account at the end of the month.
These numbers come after the Fed took no action on interest rates
Wednesday, but inflation keeps a rate hike on the table for December.
