According to new data released today, prices jumped 0.5% in September compared to the month before — the biggest monthly spike in six months. Overall prices were up 3.6% compared to September of last year and “core” prices edged up to 3.1%. The Personal Saving Rate, which measures consumers’ disposable income, fell to 3.8%, the lowest level in four years.
Donald Trump and JD Vance’s reckless tariffs and deadly and costly war with Iran have raised prices on everything. Under Trump and Vance, Americans have been forced to pay an additional $4,700 on everyday essentials, including $310 for groceries and $915 on housing. Americans have shelled out an additional $142 billion on gas and diesel alone since Trump and Vance started their war with Iran, and the average price of gas has been above $4 per gallon for 173 days this year — more than any year on record.
Workers’ wages continue to be swallowed up by high prices. Inflation-adjusted weekly wages in the third quarter of this year dropped more than 2% from last quarter to the lowest point in more than two years and the second largest drop on record dating back nearly 50 years.
In response, DNC Deputy Communications Director Kendall Witmer released the following statement:
“Donald Trump and JD Vance have made it nearly impossible for working families to make ends meet as they struggle to afford gas, groceries, and healthcare — it’s no wonder Americans are fed up. Their reckless tariffs and deadly and costly war with Iran have spiked prices and left Americans strapped, forcing them to choose whether to fill up at the pump, put food on the table, or pay for lifesaving medicine. Trump and Vance promised to ‘end inflation,’ but they continue to sit on their hands while working families beg for some breathing room. In just one week, voters will give Trump and Republicans the boot.”
It’s no surprise Trump’s approval ratings have dropped to record lows. A dismal 17% of Americans approve of Trump’s handling of the cost of living, while more than half of Americans say Trump’s economic agenda is hurting the country.
