That Americans would base their choice of their ultimate leader on the price of gas is nothing if not extremely disappointing.
First, the elections in November are for congressional seats, not the president. However, the party in power usually gets blamed for inflation. So Democrats are under the gun.
It's not just gasoline. Everything has gone up. See below. Even stripping out gasoline and other fuels and food, inflation ran 4.9% the highest in 40 years. The thing about inflation on gasoline and food, people are always filling up their gas tanks and refrigerators. So they see just how much inflation is costing them daily or weekly. If inflation goes down in the third quarter, it would help Democrats. If it doesn't, they'll blame Fed Chairman Powell who's a Republican.
Canada has had inflation too but not as much as in America. How has that affected your politicians? Are Canadians upset?
A key inflation measure rose at the fastest pace since 1982
A key measure of inflation rose 5.8% between December 2020 and December 2021, the Bureau of Economic Analysis reported Friday.
It was the biggest advance since 1982.
Energy prices alone rose nearly 30% over the course of 2021, while food prices climbed 5.7%.
Stripping out those two components, the core consumer price index -- which is the Federal Reserve's preferred measure of inflation -- rose 4.9% in the 12 months to December. That was the fastest price hike by that measure since 1983.
For the month of December alone, prices rose 0.4% -- a decline from the 0.6% in both October and November. Core prices advanced 0.5%, the same amount as in November.https://www.cnn.com/2022/01/28/economy/december-pce-inflation/index.html
