U.S. Prices Shape Voters’ Economic Views

With the midterm elections less than a month away, prices dominate Americans’ assessment of the economy. A recent CBS News poll found that nine in 10 people rank prices as the leading influence on that judgment, despite solid economic growth and low unemployment. Trump’s 2024 campaign included pledges for gasoline below $2 per gallon and mortgage rates of 2%, but many everyday costs have risen.

Food purchased for home preparation costs 4% more than in November 2024, following a 23% increase over the preceding four years. Inflation is projected at 3.6% annually for September, compared with 3.4% in August and the Federal Reserve’s 2% target. New York Federal Reserve Bank researchers calculated that tariffs added roughly 2.9 percentage points to inflation by February; without them, goods prices would have fallen.

Fuel and household energy costs are adding pressure for Simi Valley commuters, homeowners and parents. The national gasoline average reached $4.37 per gallon on Oct. 9, rising 47% from $2.98 on Feb. 27 after oil shipments were disrupted by the conflict involving Iran. Diesel reached $6.53 on Sept. 22 before settling near $6.28. Residential electricity expenses increased 12.5% from December 2024 to July of this year, while the national average utility bill hit $280 monthly in early 2026. The White House says Trump’s agenda has produced jobs, growth, tax cuts and lower prescription-drug costs.