(Seoul = Yonhap News) Reporter Kim A-ram = As inflation is steepening in the United States and energy prices are soaring due to the war with Iran, President Donald Trump and the ruling Republican Party are being pushed into a corner ahead of the midterm elections in November.
According to The Hill, a U.S. political media outlet, on the 17th (local time), recently announced economic indicators are acting as bad news for the Republican Party as they show the hardships of the American people.
The September consumer price index (CPI) increase rate, announced by the U.S. Department of Labor's Bureau of Labor Statistics on the 14th, was 3.7% compared to the same month last year, 0.3 percentage points higher than the 3.4% in August.
Subsequently, the September Producer Price Index (PPI) announced on the 15th also rose 1.3% compared to the previous month, recording the largest increase in 4 years and 6 months since March 2022 (1.7%).
In particular, energy prices have soared in the aftermath of the Iran war, increasing the burden on households.
According to the American Automobile Association (AAA), the average price of regular gasoline as of the 16th was $4.33 per gallon, up about 42% from a year ago. The price of diesel also jumped by about 73% from $3.65 to $6.33 during the same period.
During the last presidential election, President Trump pledged to lower prices of daily necessities, saying that the inflation rate during former President Joe Biden's term was the highest in 40 years.
However, many voters are blaming President Trump for inflation.
In a recent Associated Press/University of Chicago poll, about 60% of respondents responded that the economic situation has worsened since President Trump returned to power.
Doug Hay, a strategist and former communications director for the Republican National Committee (RNC), said of the latest economic data, “The bad news continues,” adding, “It confirms what voters say they are experiencing every day.”
He added, “There is no doubt that there was a problem already, but the policies pursued by the president have made the problem worse.”
Jim Kessler, senior vice president for policy at center-left think tank Third Way, said, “If the price index in September and October had been much better and the Trump administration had achieved something to boast about, people might have felt that the situation was improving.”
On the other hand, the Democratic Party is highlighting the cost of living issue by using recent economic indicators to secure leadership in Congress for the remainder of President Trump's term.
According to a report recently released by Democratic members of the Joint Economic Committee of the U.S. Congress, it was estimated that the additional cost to American households due to the surge in gasoline prices due to the Iran war would amount to an average of $856 (about 1.15 million won).
Senator Maggie Hassan, the Democratic ranking member of the committee, criticized, "Far from alleviating the burden as promised by President Trump, war, tariffs, and other reckless policies continue to increase the burden on households to purchase daily necessities."
Already burdened by President Trump's low approval rating and the Iran war that has fueled rising prices, the Republican Party is looking for ways to overturn negative perceptions about the economic situation.
The Republican Party is seeking to turn the tide and place blame on the former Biden administration and the Democratic Party.
Kevin Hassett, chairman of the White House National Economic Council (NEC), who is known as President Trump's economic strategist, claimed in a recent News Nation interview that the lives of Americans have become "worse" due to former President Biden's policies.
Mike Marinella, spokesman for the National Republican Congressional Committee, said, "President Trump and the Republican Party are working to lower costs and repair the damage caused by years of reckless spending by Democrats."
