By Basant El-Faramawy
President Donald Trump declared on Election Day that “inflation is solved,” even as new government data showed consumer prices accelerating and polls indicated the cost of living remains the top concern for nearly half of U.S. voters.
Trump's Election Day Claim
Speaking on Fox & Friends on Tuesday morning, Trump said the toughest job he was given had been resolved. “Everything’s going good… everybody respects us again,” he added.
Inflation Data Contradicts President
Figures released by the Commerce Department on October 29 showed the consumer price index rose 3.6 percent in September from a year earlier, up from 3.4 percent in August. On a monthly basis, prices climbed 0.5 percent, the highest increase since May. The Federal Reserve’s 2 percent target has not been met in nearly a decade.
Voter Concerns and Conservative Criticism
A Reuters/Ipsos poll found 48 percent of registered voters named the cost of living as the top issue deciding their vote. Joel Griffith of the conservative group Advancing American Freedom called Trump’s claim untrue, posting that American families are losing ground as inflation heats up.
Speech Draws Backlash
On election eve, Trump delivered a speech at the Lincoln Memorial Reflecting Pool, spending the first 20 minutes discussing its renovation. Former Representative Marjorie Taylor Greene criticized the address for ignoring high inflation, gas prices, and the cost of living. Trump later insisted the event was a news conference, not his final midterms speech.
Approval Ratings Decline
According to the same Reuters/Ipsos poll, 49 percent of Americans said their household finances have deteriorated since January 2025, when Trump returned to power, compared with 13 percent who saw improvement and 37 percent who said things were about the same. The president’s approval rating has fallen to the lowest levels of his political career.
