'It's rough out here': Americans struggle with rising inflation ahead of midterms

As the midterm elections approach, Americans continue to grapple with persistently high inflation, which has once again surpassed economic forecasts. In September 2026, the Consumer Price Index rose to 3.7% year-over-year, an increase from 3.4% in August, marking the highest pre-midterm inflation rate since 1990, excluding the pandemic era. Core prices, excluding volatile food and energy sectors, also saw an increase, while monthly costs jumped by 0.6%—the largest gain in five months. Factors contributing to this rise include increased prices for gasoline, clothing, and airfares, with the ongoing Iran war cited as a significant driver of elevated energy costs.

The sustained inflation has eroded consumer purchasing power, leaving many households feeling financially strained. Consumer confidence declined in September across all demographic and political groups, with both current economic conditions and future expectations worsening. A significant majority of Americans, 60%, report their income is insufficient to live their desired lifestyle, and 53% lack adequate emergency savings. The cumulative effect of years of higher prices means overall consumer costs are estimated to be 24-30% higher than in 2019, further compounded by declining real wages since 2021.

This economic dissatisfaction is a dominant theme heading into the congressional elections, with 84% of registered voters citing the economy as a crucial factor in their vote. Elevated inflation is presenting a significant political challenge, with a recent survey indicating that 78% of Americans attribute the current inflation to the policies of the Trump administration, including a majority of Republican supporters.