'The White House has been so wrong, so often, on inflation that its latest assurance that the painfully high cost of living has peaked didn't pass muster -- especially with swing state Democrats in an election year,' writes StCollinson | Analysis
New statistics on Wednesday showing consumer prices rocketing 9.1% in June year-over-year -- a 40-year high -- dealt another blow to a reeling administration and posed a fresh test of President Joe Biden's capacity to drag his party out of a deepening political hole.
What can Biden actually do about inflation? History is a guide 03:31One of the most politically damaging characteristics of inflation is that it is felt by every voter, since it hits vital commodities like dairy products, bread, eggs, rent and gasoline and tends to impact less well-off people in a more extreme way. It's also demoralizing since no one knows when things will improve.
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