The cost of living crisis, which saw inflation in the US peak at a four-decade high of 9.1% in 2022, played a significant role in determining the outcome of last November’s presidential election.
Exit polls across ten of the key battleground states showed 32% of voters considered the economy to be the most important election issue. Among that group of voters, a staggering 81% voted for Donald Trump.
Trump had spent most of his election campaign saying his administration would tackle high prices – even vowing to bring them down on day one. However, the latest figures suggest inflation in the US has increased since he took office, rising unexpectedly to a six-month high of 3% in January.
